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Uphold, the XRP giant, could be acquired: A Ripple-supporting lawyer expects PayPal and Binance to be among the potential buyers
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Friday 20/06/2025 -
A Ripple-supporting lawyer names JPMorgan, Binance, and Robinhood as potential heavyweight buyers in XRP Uphold
Uphold, the XRP giant, could be acquired: A Ripple-supporting lawyer expects PayPal and Binance to be among the potential buyers
Google News
Crypto lawyer John E. Deaton just added fuel to the XRP discussion by publicly speculating that Uphold, the platform most synonymous with supporting XRP, could be acquired by a major player.
He has a long list of potential buyers, including Coinbase, Kraken, Binance, Gemini, Robinhood, Ripple, and even some big names from the traditional finance world like JPMorgan, Goldman Sachs, Fidelity, Citi, and PayPal.
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Uphold enjoys a unique position. According to the latest transparency data, XRP represents a massive $4.54 billion in reserves out of the platform's total reserves of $6.61 billion, which is about 69% of the total managed assets. XRP is the essence of Uphold, not just a small part of it.
The platform has also processed over 26 million XRP transactions, representing 26% of the total transaction volume, and continues to do so robustly. This week, Uphold announced its support for USDC via the XRP ledger.
So, the platform is not limited to just holding the currency, but it also focuses on XRP. With a reserve ratio of 100.6%, the platform implements a fully-backed model and is already facilitating XRPL activity on a large scale without needing to build new railroads.
Why not?
But there's a big problem. Simon McLoughlin, the CEO of Uphold, is known to be one of the biggest fans of XRP and the XRPFi ecosystem. He is not just a supporter but a believer in it.
This personal conviction may complicate any acquisition process unless buyers are willing to pay significantly more than the market price. McLoughlin can either hold his position or raise the asking price to the skies.
Deaton's invitation may be a bit exaggerated, but with all the numbers, the location, and the increasing institutional interest in XRP's infrastructure, it's definitely something worth monitoring.
And don't forget that Ripple already has a history of such acquisitions through a small stake in Bitstamp, which was later merged with Robinhood.
