Ripple Expands DeFi Ecosystem with FXRP Launch
Ripple is making significant strides in expanding its DeFi ecosystem and increasing on-chain utility for XRP. The company's recent partnership with Sentora has led to the live launch of FXRP as collateral in Sentora's RLUSD vault on Morpho, marking a key step in integrating XRP into Ethereum mainnet DeFi.
This development allows XRP holders to mint FXRP, bridge it to Ethereum, use it as collateral, and borrow RLUSD without selling their XRP. This integration is expected to bring more liquidity to XRPL and increase its on-chain activity, which could eventually support stronger demand for XRP in Q3.
Ripple's push into DeFi also includes the upcoming XRPL 3.3.0 upgrade, which will introduce ZK-powered privacy for tokenized assets, focusing on institutional users. This move aims to enhance the utility of tokenization and increase access to liquidity without selling XRP.