Flare Expands XRP's Role in DeFi with New Lending Market
XRP holders now have a new way to unlock liquidity without selling their tokens. Lending market Flare has announced that its wrapped version of XRP, FXRP, has been approved as collateral by Sentora, which manages a $280 million RLUSD lending pool.
This approval enables an isolated FXRP/RLUSD lending market on Morpho Blue, allowing users to deposit FXRP as collateral and borrow RLUSD while maintaining exposure to XRP's price. The lending market is permissionless, meaning users do not need to join a whitelist to participate.
XRP remains one of the largest assets in crypto but also one of the least utilized in DeFi, according to Flare co-founder and CEO Hugo Philion.