XRP holders can now borrow RLUSD on Ethereum through $280 million lending pool
XRP holders can now borrow RLUSD against their coins on Ethereum without selling, through a $280 million vault that had never accepted an XRP-linked asset before.
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Summary
- XRP holders can now use wrapped XRP (FXRP) as collateral to borrow Ripple’s RLUSD stablecoin on Ethereum via a new isolated market on Morpho Blue.
- The lending pool, managed by Sentora, approved FXRP after reviewing its market behavior, oracle design, liquidity and liquidation capacity under an institutional risk framework.
- Flare is developing tools to streamline the current multi-step process of minting and bridging FXRP, aiming to let users authorize the entire borrowing flow directly from an XRP Ledger wallet.
