LendProtocol Launches Fixed-Rate Lending Platform on XRP Ledger
LendProtocol has introduced a fixed-rate lending platform on the XRP Ledger for holders of XRP and RLUSD. The platform, which offers an annual percentage rate (APR) of 12%, allows lenders to earn interest daily without any lock-up period.
The service claims to have facilitated over 743 million XRP in loans, serving more than 13,713 active lenders. Borrowers must provide collateral equal to 120% of the loan value using one of six supported assets, including Bitcoin and Ethereum.
LendProtocol operates as a centralized finance intermediary, managing borrower defaults rather than passing exposure to individual depositors. However, users remain exposed to risks associated with platform solvency, custody, collateral liquidation, cybersecurity, regulation, and operational performance.