The Uphold cryptocurrency exchange has added the RLUSD stablecoin to its trading platform, which is expected to boost Ripple's credibility and promote the adoption of its products. Uphold CEO Simon Mcloughlin explained that the addition of RLUSD is part of the exchange's strategy to engage users and encourage activity on the platform. Users can earn 5% of their RLUSD deposit from January 2025 through a reward program. Uphold generates the funds for the reward from its balance sheet and sees it as a marketing strategy to increase awareness and adoption of the exchange. Mcloughlin believes that people transact more when they hold stablecoins, which is why Uphold chooses to reward users with stablecoins rather than native tokens. Uphold currently supports ten stablecoins but only offers rewards on four. Mcloughlin views RLUSD as a well-designed stablecoin with adequate regulation and compliance, boosting Ripple's credibility.



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