XRP Holders Gain Access to Borrow Ripple's Stablecoin on Morpho

XRP holders have gained access to borrow Ripple's stablecoin through Morpho's lending protocol. Sentora, an institutional DeFi strategy platform, has approved FXRP as collateral in its RLUSD Main vault on Morpho.

This approval enables XRP holders to convert their cryptocurrency into the FXRP token, bridge it to Ethereum, and deposit it as collateral on Morpho to borrow RLUSD.

RLUSD is a stablecoin pegged 1:1 to the U.S. dollar, with a market cap of $1.5 billion. The RLUSD Main vault holds $280M in deposited RLUSD, making it the largest institutionally curated RLUSD vault on Ethereum.