Uphold Partners With Exactly Protocol: Crypto-Backed Credit Card Launches December 2025

Uphold has announced a groundbreaking integration with Exactly Protocol that enables users to borrow against their crypto holdings and spend via a Visa credit card, while simultaneously earning yield on deposited assets. The service launches in Florida and Latin America this December with broader U.S. availability in Q1 2026, supporting Bitcoin, Ethereum, XRP, and USDC.

Bridging DeFi and Traditional Finance With Real-World Utility

The partnership between Uphold, a leading digital asset platform with over 10 million users across 140+ countries, and Exactly Protocol, a decentralized lending protocol, represents a significant step toward mainstream DeFi adoption. The integration removes the technical barriers that have historically kept on-chain lending and borrowing inaccessible to average users, delivering institutional-grade DeFi through a consumer-friendly interface.

Users can access credit 24/7 without credit checks while simultaneously earning variable yield on deposited assets including Bitcoin, Ethereum, XRP, and USDC. The service combines fixed-rate DeFi loans with an innovative crypto-enabled Visa credit card, solving a major pain point for customers who want to make daily purchases leveraging the value of their crypto without selling their holdings.

"On-chain borrowing and lending is one of the best use cases in crypto," said Simon McLoughlin, CEO of Uphold, in the official announcement. "But until now, it has only been accessible to technical users." The service eliminates the need to manage seed phrases, sign on-chain transactions, or deal with volatile gas fees through Uphold's integration with a specialized, permissioned version of the Exactly Protocol.

"We're very excited that our Exactly partnership leapfrogs other CeFi/DeFi offerings because it delivers real-world spendability against crypto," McLoughlin continued. "This is DeFi for daily life delivering on the fundamental promise of crypto: universal access to financial services 24/7."

How the Uphold-Exactly Protocol Integration Works

The platform operates through a streamlined process that seamlessly bridges centralized finance (CeFi) and decentralized finance (DeFi). Uphold's platform connects with a specialized, permissioned version of the Exactly Protocol, creating an intuitive service that improves accessibility to decentralized finance without requiring technical expertise.

Users deposit crypto assets—Bitcoin, Ethereum, XRP, or USDC—that serve as collateral and determine their credit limit. These deposits are automatically allocated to Exactly Protocol's lending markets through Uphold's white-label integration, where they immediately begin generating variable yield based on borrower demand.

When users make purchases with their Visa credit card, the Exa App (powered by the integration) automatically borrows the required amount from Exactly Protocol's fixed-rate lending markets. Interest rates are fixed and determined at the time of each transaction. The borrowed funds are instantly converted to USD and sent to merchants, enabling seamless real-world spending without requiring users to sell their crypto holdings.

According to industry reports, lenders who supply funds to the protocol earn yield as borrowers repay their debt at fixed rates. Users can repay loans in up to six fixed installments scheduled every 28 days, or pay off balances early to free up credit for future purchases.

Gabriel Gruber, Founder of the Exactly Protocol, emphasized the significance of the partnership: "Our goal at Exactly Protocol is to bring the stability and predictability of traditional finance to the crypto world. Being integrated by a leading crypto infrastructure provider like Uphold is a major milestone, expanding access to our protocol and accelerating our vision for a truly decentralized credit market."

Strategic Latin America Launch Timing

The initial focus on Florida and Latin America is strategically significant. According to Chainalysis data, Latin America recorded nearly $1.5 trillion in cryptocurrency transaction volume between July 2022 and June 2025, with December 2024 reaching a record $87.7 billion in monthly activity. The region has become a crypto powerhouse driven by persistent inflation, currency volatility, and capital controls that push households toward stablecoin adoption.

"In many markets around the world, digital assets have found favor among the public as useful protection against local currency devaluation," McLoughlin continued in the announcement. "Beyond the universal benefits of the service, Uphold's integration with Exactly will give customers in Latin America—and in other markets where traditional financial services are limited—unprecedented access to fair, transparent credit."

Benefits for Crypto Asset Holders

The Uphold-Exactly Protocol integration delivers significant value across multiple crypto assets, each benefiting in unique ways from the new yield and credit capabilities.

For Bitcoin holders, the service provides a way to earn passive income on an asset that doesn't support staking, while maintaining the ability to borrow against holdings for liquidity without triggering taxable events. Ethereum holders gain an alternative to native staking with potentially competitive yields, plus the flexibility of instant credit access.

The service particularly addresses a long-standing challenge for XRP holders. "The number one thing we hear from our XRP community is, 'How do we earn on our holdings,'" McLoughlin stated in recent coverage. "With this new integration, they'll be able to do just that." Since XRP operates on a consensus protocol rather than proof-of-stake, it hasn't supported traditional staking mechanisms, leaving holders without passive income options until now.

As reported by Cointelegraph, XRP recently achieved definitive legal clarity following the August 2025 resolution of the SEC case. Combined with this new earning capability, the timing positions multiple crypto assets—including XRP—to demonstrate expanded utility beyond their core use cases.

Stablecoin holders (USDC) benefit from the ability to earn variable yield while maintaining dollar-denominated stability, making the service attractive for users seeking lower-volatility returns in Latin American markets where currency devaluation remains a concern.

White-Label Partnership Opportunities

Under the proposed partnership, Uphold intends to invest in EXA governance tokens and serve as the exclusive CeFi distribution partner. Uphold expects to embed the service into the Uphold App on a white-label basis in regions outside Europe and North America.

According to the official announcement, businesses that build on the Uphold platform will also be able to offer this service to their customers in certain markets. This white-label approach could significantly accelerate adoption by enabling other fintech companies and crypto platforms to integrate crypto-backed credit and yield services without building the infrastructure themselves.

The partnership model represents a strategic shift in how DeFi protocols can reach mainstream users—not through direct consumer marketing, but by powering the infrastructure for established platforms with existing user bases and regulatory frameworks.

Market Implications and Regulatory Considerations

This development signals a broader shift in crypto-financial services. By combining DeFi protocols with traditional payment rails through Visa, Uphold is demonstrating how blockchain technology can deliver tangible consumer benefits without requiring users to understand underlying technical complexity. The model could inspire similar integrations across the industry.

From a regulatory perspective, Uphold's established compliance framework provides confidence. The company is regulated in the U.S. by FinCEN and state regulators, and is registered with the FCA in the UK, FINTRAC in Canada, and appropriate authorities in Europe. Uphold also pioneered radical transparency by publishing its assets and liabilities every 30 seconds on a public website, and maintains a policy of never loaning out customer assets, keeping them 100% reserved.

The staggered U.S. rollout—starting with Florida before expanding nationally in Q1 2026—suggests a careful approach to navigating varying state-level regulations. The focus on Florida first may be strategic given the state's relatively crypto-friendly regulatory environment and its position as a gateway to Latin American markets.

Conclusion: A New Era for Crypto Utility and XRP Value

This new crypto-backed credit and yield service represents more than just another DeFi product launch. For the broader cryptocurrency market, it demonstrates how properly designed integrations can bridge the gap between complex DeFi protocols and mainstream consumer use cases. For XRP holders specifically, it solves the fundamental challenge of generating passive income from an asset that lacks native staking capabilities.

The December 2025 launch in Florida and Latin America will serve as a critical test case for market appetite for crypto-backed financial services. Success in these markets could accelerate the transformation of major cryptocurrencies from speculative trading assets into comprehensive financial tools that compete directly with traditional banking products.

For XRP, the timing couldn't be better. With regulatory clarity finally achieved through the resolved SEC case, institutional interest growing, and now a mainstream path to earning yield, the asset is positioned to demonstrate its value proposition beyond cross-border payments. The ability to earn passive income while maintaining exposure to potential price appreciation could fundamentally change how investors view XRP as part of their portfolio.

As the crypto industry continues maturing beyond speculation toward genuine utility, innovations like crypto-backed credit cards and yield services may define the next chapter of digital asset adoption. The question is no longer whether cryptocurrencies can provide value, but rather how quickly mainstream financial services can integrate blockchain technology to deliver superior user experiences. The December launch will provide important data points on consumer readiness for this evolution.

DISCLAIMER

This newsletter is for informational purposes only and does not constitute investment advice, advertising, or a recommendation to buy, sell, or hold any securities. This content is not sponsored by or affiliated with any of the mentioned entities. Investments in cryptocurrencies or other financial assets carry significant risks, including the potential for total loss, extreme volatility, and regulatory uncertainty. Past performance is not indicative of future results. Always consult a qualified financial professional and conduct thorough research before making any investment decisions.

Sources

1. Uphold and Exa Plan to Bring Crypto Credit Card and Yield Service to the Mass Market - CryptoSlate Press Release (February 26, 2025)
2. Decentralized Credit, Borrowing and Yield Services Opened up for Mainstream Users - Bitcoin Ethereum News (October 27, 2025)
3. Decentralized Credit, Borrowing And Yield Services Opened Up For Mainstream Users - Blockchain Reporter (October 27, 2025)
4. Top American Exchange Says XRP Isn't Just Held — It's Earned and Compounded - The Crypto Basic (October 18, 2025)
5. Ripple vs. SEC: How the lawsuit strengthened XRP's narrative - Cointelegraph (September 17, 2025)
6. Ripple-SEC Lawsuit News: XRP Case Officially Ends - Brave New Coin (August 8, 2025)
7. 2025 LATAM Crypto Adoption: Latin America Emerges as Crypto Powerhouse - Chainalysis (October 2025)
8. Uphold and Exa Plan to Bring Crypto Credit Card and Yield Service to the Mass Market - Chainwire (February 26, 2025)
9. Uphold Transparency Page - Uphold
10. SEC Drops Ripple Appeal, Paving the Way for Potential XRP ETF Approval in 2025 - CoinMarketCap (March 27, 2025)