Morpho Blue Approves Wrapped XRP as Collateral for $280 Million RLUSD Lending Pool

XRP holders can now borrow RLUSD on Ethereum through a new lending pool worth $280 million, thanks to Morpho Blue's isolated market approval of wrapped XRP (FXRP) as collateral.

The lending pool is managed by Sentora and allows borrowers to take out RLUSD against their FXRP holdings. This move opens up access for XRP holders to use their coins without selling them, providing a more flexible option for DeFi participation.

Flare, the blockchain that enables XRP's use in decentralized finance, has been working to streamline the process of minting and bridging FXRP. The company aims to simplify the borrowing flow by allowing users to authorize it directly from an XRP Ledger wallet.