FXRP Arrives on Derive, Expanding On-Chain Options for XRP Holders
Flare has integrated FXRP as collateral on Derive, allowing XRP holders to access on-chain options and perpetual futures. This move comes as XRP network activity rises, with daily active addresses increasing by 35% in August to 35,700. However, new-user growth remains weak, with only around 2,260 new addresses per day.
The integration enables FXRP holders to mint the asset through Flare's FAssets system and deposit it on Derive. Users can then manage hedging, premium generation, and directional positions using one Portfolio Margin V2 account. The settlement of XRP options in USDC means that when an option expires in the money, the platform pays the difference in USDC while FXRP remains posted as collateral.
Nick Forster, Derive's co-founder and chief executive, said XRP had lacked the infrastructure needed for a permissionless options market. He described FXRP as an on-chain route for XRP holders. The launch of FXRP on Derive also expands its use cases beyond lending, borrowing, and yield tokenization across DeFi applications.