Derive Lets XRP Holders Trade Options with FXRP Collateral

XRP holders can now trade options on Derive using FXRP collateral. The integration gives users self-custodial access to hedging, premium-generating and leveraged strategies.

Derive settles XRP options in USDC instead of delivering the underlying asset. This means that gains or obligations at expiration change the trader's USDC balance without transferring XRP or FXRP.

The multiasset collateral system uses USDC as its quote asset, reducing the need for traders to hold multiple assets on Derive.