Sentora — a platform for managing credit vaults for institutional investors, has added FXRP — a token backed by XRP on the Flare network. FXRP is now listed among the assets that can be used as collateral in the $RLUSD Main vault on the Morpho platform. Morpho provides decentralized lending infrastructure on Ethereum.
Users can use FXRP as collateral without handing control of their assets to a third party. To do this, they mint FXRP via the FAssets application on the Flare network, transfer the tokens to Ethereum, and deposit them as collateral. After that, they can borrow $RLUSD against the FXRP collateral within established limits.
The isolated market for FXRP/$RLUSD has launched on Morpho Blue and is part of the Sentora $RLUSD Main vault. It currently holds approximately $280 million in $RLUSD. Initially, a relatively low limit for the collateral volume has been set for FXRP. This limit may be increased as liquidity and demand grow.
Image: Magnific
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