Flare enables lending features for its on-chain asset FXRP, which is pegged to XRP, through integration with Morpho

According to CoinDesk, the blockchain network Flare has enabled lending features for its on-chain XRP-pegged asset FXRP through integration with the cross-chain lending protocol Morpho.

This update aims to provide XRP holders with more decentralized finance options, allowing them to earn interest by depositing FXRP or using FXRP as collateral to borrow stablecoins and other assets. This feature is currently accessible through the standalone Mystic application, initially offering lending pools supported by FXRP, Flare's native token FLR, and the stablecoin USDT. Morpho's market design isolates each pair of lending assets to limit risk transmission.