Uphold, a financial technology company focused on on-chain finance, has introduced RLUSD Earn, a new service that allows customers to earn up to 7% annual percentage yield (APY) on RLUSD, a US dollar stablecoin issued by Ripple. The offering is designed to simplify access to decentralized finance (DeFi) lending, removing the need for external wallets, private key management, or navigating complex protocols.
The yield is generated through a lending market curated by Sentora on Morpho, a DeFi platform. When borrowers pay interest to borrow RLUSD, that interest is distributed to depositors, meaning the rate fluctuates based on demand. As of October 29, 2026, the APY is up to 7%, but it is variable and can change.
According to Uphold, the potential yield is more than 18 times the US national average savings rate, which the FDIC reported as 0.38% APY in September 2026. For many stablecoin holders, assets often sit idle in accounts earning minimal returns. RLUSD Earn aims to put those assets to work without the typical technical hurdles.
“Your RLUSD could be doing more,” said Simon McLoughlin, CEO of Uphold. “The average US savings account pays well under half a percent, and most crypto yield platforms ask you to learn wallets and protocols before you earn anything. RLUSD Earn gives customers a much higher rate on a stablecoin from a name they know, through the app they already use, with nothing to set up.”
RLUSD is issued by Ripple under a New York Department of Financial Services limited-purpose trust charter and is backed 1:1 by US dollar reserves, which are audited monthly by an independent accounting firm. Because RLUSD is designed to maintain its value against the US dollar, investors can earn without exposure to cryptocurrency price volatility. However, it is not a bank deposit and is not FDIC insured, and the balance can fall.
“RLUSD Earn is for people who want an easier way to earn a better return on their stablecoins,” said Nancy Beaton, President of Uphold Consumer. “There’s no subscription and no long-term commitment and customers can see their balance and earnings daily in the app.”
To get started, users open the Earn section in the Uphold app, select RLUSD, and either purchase RLUSD with cash or move existing RLUSD holdings. The current APY is visible in the app, and withdrawals can be requested at any time. The service is available on iOS and Android in eligible US states and other countries.
While the offering simplifies access to DeFi, it carries inherent risks. Assets are moved off the Uphold platform and held within smart contracts, and Uphold disclaims responsibility for any losses, including complete loss of assets. Returns are paid by the protocol, not by Uphold, and are not guaranteed. The company emphasizes that participation is voluntary and at the user's own risk.
This launch comes as stablecoin yield products gain traction, with platforms like WhiteBIT introducing SWIFT USD transfers for institutional clients, and OKX Europe's CEO suggesting that MiCA's single rulebook could boost euro stablecoins. Uphold's move aims to capture retail demand for yield on dollar-pegged assets without the complexity of direct DeFi engagement.
This article is for informational purposes only and does not constitute financial advice.
