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Flare Simplifies DeFi Access with Smart Accounts Update

Guavy AI Editorial Team
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XRP
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Flare has released Smart Accounts version 1.3 to simplify DeFi access for XRP holders. The update removes the need for multiple approvals and manual bridging, instead allowing users to access DeFi with a single wallet signature.

The new system converts XRP into FXRP and automatically deposits it into a selected yield vault after verifying the XRP Ledger transaction. This setup retains user control over their assets while streamlining the process.

According to Flare, FXRP activity across decentralized finance platforms has grown by nearly 75% since February, with more than 40 million XRP currently earning through Smart Accounts across almost 24,000 accounts.

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