XRP Becomes First Collateral Asset in Sentora's Ethereum Vault

Flare has announced that FXRP, a representation of XRP, is now an approved collateral asset in Sentora's RLUSD Main vault on Morpho. This makes XRP the first XRP collateral to be approved in an institutionally curated lending vault on Ethereum.

The move allows users to borrow RLUSD against FXRP on Ethereum mainnet, marking a new permissionless market for XRP holders. The largest institutionally curated RLUSD vault on Ethereum holds approximately $280 million in deposited RLUSD.

XRP is one of the largest assets in crypto and least used in DeFi, according to Hugo Philion, Co-founder and CEO of Flare. He stated that FXRP has made XRP programmable, closing part of this gap, and now its use as collateral on Ethereum mainnet closes another part.