Uphold CEO Simon McLoughlin Discusses SEC v. Ripple Case and Upcoming Product
In a recent interview, Uphold CEO Simon McLoughlin shared insights on the SEC v. Ripple case and the company’s upcoming product, Uphold Vault. Here are the key points:
1. SEC v. Ripple Case
- McLoughlin sees the recent ruling in the case as a win for the crypto industry.
- Uphold’s support for XRP over the past two years has been vindicated.
- Their law firm, Paul Hastings, played a crucial role in encouraging their stance.
2. Impact of Judge Torres’ Ruling on Uphold
- The ruling will remove uncertainty in the altcoin sector where Uphold specializes.
- It will contribute to clearer lawmaking and rule-making in the United States.
- This will bridge the gap between regulators, courts, and the crypto industry.
3. Uphold Vault
- Uphold Vault, launching in H2 2023, is a self-custodial solution for holding assets.
- It supports multiple cryptocurrencies, including XRP, Bitcoin, Ethereum, Stellar, and XDC.
- Users can manage assets from different chains in one self-custodial wallet.
- The key recovery system makes self-custody easy for non-technophiles.
4. XRP Token Holder Benefits
- XRP token holders will receive early access to Uphold Vault.
- This is Uphold’s way of rewarding the community for their loyalty and support during the SEC v. Ripple case.
5. Future Plans
- Uphold plans to reintroduce a debit card offering XRP rewards in the United States.
- They are exploring yield products and adding more functionality to the wallet.
Hot Take: Uphold’s CEO believes that the recent ruling in the SEC v. Ripple case is not only a win for Uphold and XRP, but also for the entire crypto industry. Uphold Vault, their upcoming product, aims to provide a user-friendly self-custodial solution for managing multiple cryptocurrencies. Early access to Uphold Vault will be given to XRP token holders as a reward for their loyalty. Uphold has ambitious plans for the future, including the reintroduction of a debit card and the expansion of their wallet’s functionality.
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