Full XRP Support and Reserves Confirmed by Major Platform’s CEO

In an interesting move, Uphold’s CEO, Simon McLoughlin, highlighted the company’s enduring commitment to the XRP community, shedding light on the safety of funds and the paramount importance of transparency.

In a recent interview, McLoughlin disclosed that Uphold has experienced remarkable inflows of funds from retail crypto investors, with a notable emphasis on XRP-related transactions. Surprisingly, despite market predictions indicating outflows, the platform has witnessed substantial inflows. McLoughlin attributed this success to Uphold’s steadfast support for the XRP community, a risk that has proven fruitful over two years.

Uphold CEO Simon McLoughlin explains why the #XRP community continues to stand by Uphold after the SEC ruling.

▪️ Uphold’s loyalty to XRP
▪️ Trust & Transparency
▪️ 100% Reserved
▪️ Security

🎥 Watch the full interview with @cryptolewlew: https://t.co/xqFMVODT1B pic.twitter.com/YuCLyEPJi0

— Uphold (@UpholdInc) August 19, 2023

The CEO underscored transparency as a key driver behind Uphold’s recent achievements. He declared that Uphold is unrivaled in its sector, providing an up-to-the-minute reserve status update every thirty seconds. This real-time transparency has emerged as a cornerstone of the platform’s appeal.

Proof of reserves

As evidenced by the current statistics showcased on Uphold’s website, every asset within the platform maintains impressive 101.9% collateralization, with liabilities totaling $1.9 billion and corresponding reserves amounting to $1.936 billion. Notably, Uphold’s XRP holdings boast liabilities of $1.233 billion, meticulously backed by corresponding reserves. The data highlights that transactions involving XRP contribute significantly, accounting for 28.41% of the platform’s total turnover.

The platform’s visionary approach has for sure garnered substantial attention, setting it apart as a promising player in the ever-evolving landscape of digital finance. In a landscape often riddled with uncertainties, Uphold’s resolute affirmation of XRP and its pioneering transparency initiatives signal a promising direction for the crypto industry.