Uphold CEO Simon McLoughlin has clarified several points regarding the platform's XRP holdings and asset rights.
Uphold's Position Among XRP Holders
According to Cointelegraph, Uphold ranks among the largest XRP holders globally. McLoughlin refuted the notion that these assets belong to the company, clarifying that they are customer funds. He highlighted that such information is based on trust between the exchange and its users.
Transparency in Asset Management
McLoughlin emphasized the importance of transparency in managing assets. He stated that the distinction between customer and corporate assets is crucial for building user trust. "These holdings are based on trust, not hype," he remarked.
Uphold's Role in the XRP Ecosystem
Uphold's holdings exceeding 1.59 billion XRP highlight its importance in regulating XRP flow. The activity of platforms like Binance and Bithumb contributes to active trading liquidity. The high volumes of funds on exchanges signify their roles as primary custodians within the ecosystem.
McLoughlin's statements highlight Uphold's commitment to safeguarding client assets, strengthening trust in digital asset markets and emphasizing transparency in this sector.
