U.S. cryptocurrency exchange Uphold is preparing to launch a yield service for XRP holders called Earn on XRP, blockchain outlet U.Today reported on Thursday.

Paul Underwood (폴 언더우드), Uphold's chief product officer, said the feature has entered the final stage of development. Underwood unveiled the plan at the XRP Vegas event and later reaffirmed the same 내용 on X. He acknowledged development has taken longer than expected but said, "The wait is almost over," adding, "The details will come out within the next few weeks."

The core issue is that the XRP Ledger's structure does not directly support native staking. Unlike Ethereum or Solana, the XRP Ledger has no staking-style reward structure in its base design, meaning Uphold must create an interest-earning structure through other methods.

Uphold is reviewing options that use DeFi lending protocols or partner networks. The outlet presented a wrapped-token approach through Exactly Protocol and Flare Network as possible workarounds. This means the service may not be a simple deposit product but one that combines external infrastructure.

Regulatory work is also under way. Underwood, responding to a user query, said Uphold is currently working to obtain New York state's BitLicense. The company has in effect sent the market a signal that it is preparing the new yield product within the strict oversight framework of U.S. regulators.

Uphold is moving quickly on the product because XRP accounts for a large share on the platform. According to the company's proof-of-reserves report, Uphold currently holds about 1.62 billion XRP. That equals 1.63 percent of global circulating supply. By XRP holdings, Uphold is classified as a top-three exchange platform globally after Upbit and Binance.

XRP is also Uphold's largest asset by market capitalisation. User holdings are backed on a one-to-one basis. Uphold has operated XRP-focused services in the United States, including a debit card that offers up to 6 percent cashback based on XRP and up to a 3 percent bonus for recurring purchases.

Against this backdrop, Earn on XRP is positioned as an extension of the strategy to attract long-term holders. For long-term investors, it would create a way to earn returns on their holdings within a regulated platform without moving assets to complex and higher-risk third-party DeFi platforms.

The actual product structure and interest rate have not been disclosed. Uphold has said it will release official terms and interest rates within the next few weeks. The service launch timing, payout method and the scope of external protocol integration are expected to be key points to watch.