This week, Uphold revealed plans to kick off its digital asset-backed loan program. On Thursday, the company took to X to spill the details, posting, “Starting in select areas, Uphold is launching asset-backed loans. You’ll be able to borrow against your XRP — plus ETH, BTC & USDC.”

Uphold dropped more details in its announcement, revealing that the digital asset lending rollout will kick off in Florida. The company added that, along with borrowing against XRP, BTC, USDC, and ETH, customers will also have the chance to earn a yield.

Uphold’s latest move drops right in the middle of a growing trend, as a wave of crypto firms and platforms are now rolling out digital asset-backed loans across both centralized finance (CeFi) and decentralized finance (DeFi) sectors. Other players in the game offering similar lending options include Binance, Coinbase, Ledn, Nexo, Unchained Capital, Figure, Strike, and Liquidium.

These services provide loans where users can borrow fiat or stablecoins using their crypto holdings as collateral without requiring credit checks. As crypto lending continues to blur the lines between traditional finance and digital assets, Uphold’s entry adds fresh competition to an already buzzing market.

With crypto now pulling double duty as collateral, the move signals that borrowing in the digital asset world is no longer just for whales — it’s going mainstream, one token at a time.

• What is Uphold’s new lending feature?
  Uphold is launching digital asset-backed loans that let users borrow against crypto like XRP, BTC, ETH, and USDC.
• Where will Uphold’s crypto loans start?
  The program will first roll out in Florida before expanding to other regions.
• Do Uphold’s loans require a credit check?
  No, borrowers can use their crypto as collateral without traditional credit checks.
• Can users earn yield through the program?
  Yes, Uphold customers can earn a yield while borrowing against supported digital assets.

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