Derive Brings XRP Options Trading Through Flare's FXRP

XRP holders now have another way to use their holdings in decentralized finance (DeFi) thanks to a new integration between Derive and Flare's FXRP token.

The setup allows XRP holders to mint FXRP through Flare's FAssets system, deposit it into a Derive Portfolio Margin V2 account, and then use it as collateral while trading derivatives.

This integration addresses a limitation faced by XRP holders, who have previously been unable to use their holdings in many DeFi applications due to the lack of native smart-contract functionality on the XRP Ledger.

XRP options are now live on Derive with FXRP added as collateral. This allows users to buy or sell an asset at an agreed price and take directional positions on XRP, among other uses.