Uphold and GlobaliD Launch Mastercard Debit Card With XRP Rewards

Uphold crypto exchange and GlobaliD, a digital identity platform have partnered to launch a MasterCard debit card that would provide five percent cashback in XRP cryptocurrency.

Uphold and GlobaliD Launch Debit Card With XRP Rewards

Uphold and GlobaliD have announced the launch of a Mastercard debit card providing up to 5% cashback in XRP.

The card is initially rolled out in the U.S. where the first 100 users will earn up to 5% back in XRP on the first $10,000 spent within three months, and 2% after.

The rewards will be airdropped into the Rewards section of the Uphold-powered GlobaliD Wallet where users can also top up funds as well as send and receive a range of currencies and digital assets. Funds can be added to the card via a bank account, payment card, or cryptocurrency.

Commenting on the initiative, Greg Kidd, co-founder, and CEO of GlobaliD said:

“The XRP Card is also a reference implementation for a debit card tied to and issued by a trusted community. Eventually, any GlobaliD community will be able to issue their own unique debit cards to their members as well as develop their own merchant reward networks and funding mechanisms. That could be in charity organizations, fan clubs, sports teams any group of people with aligned interests. They’ll be able to leverage the collective social and spending power of their trusted community.”

Earning Passive XRP Rewards

Rather than spending their XRP rewards users also can passively earn and save the cashback to accumulate in their digital wallets where they could either spend the digital asset or continue to store it for its price increase in the future.

To manage their XRP cards, consumers need to access their Uphold-supported GlobaliD Wallet and have their rewards in XRP sent to it while spending almost 50 national and cryptocurrencies available through the digital wallet. Uphold reportedly have more than 5 million customers by giving access to more than 30 digital currencies that also allows such conversions between fiat to digital and vice versa.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

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Uphold and GlobaliD Launch Mastercard Debit Card With XRP Rewards

Jafrin Ahmed

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.