cbXRP Launches on Base as Flare Boosts XRP DeFi Utility With $100M Liquidity
The post cbXRP Launches on Base as Flare Boosts XRP DeFi Utility With $100M Liquidity appeared on BitcoinEthereumNews.com. This integration allows users to borrow and lend cbXRP without selling their XRP holdings, connecting XRPL assets to Ethereum Layer 2 DeFi services. Flare Network has introduced FXRP, a decentralized and non-custodial version of XRP, alongside new liquid staking features and interoperability with other assets like Tether’s cross-chain USDT. Ripple’s XRP is making waves on decentralized finance as a Coinbase-backed variant, cbXRP, has appeared as a lending instrument on the Base blockchain on the lending platform Moonwell. This marks the first instance of cbXRP support within the Base ecosystem that opens access to new DeFi products to the user of the XRP tokens who want to access on-chain financial services. Coinbase’s cbXRP Debuts on Base The support offered by Moonwell enables people to borrow and lend cbXRP, which is a token presentation of XRP that is pegged 1:1 and minted by Coinbase. With this initiative, linking the assets on XRPL to a loan of USD Coin (USDC) no longer requires selling XRP assets in the offerings. Instead, available uniqueness in the XRPL can now be listed into cbXRP on Coinbase and secured in Moonwell to get loans in USD Coin (USDC) without selling out their assets in XRPL. This transfer de facto introduces the utility of XRP to Ethereum Layer 2 systems and allows the use of DeFi lending protocols. The introduction of an XRP asset to Base means new horizons of accessible asset issues based on XRP as the opportunity of an extended usage on an Ethereum-compatible governance is open. The development will mean an early step towards composable DeFi with XRP, as Moonwell is launching as the first lending market to provide cbXRP liquidity. Meanwhile, another initiative to enhance XRP in the context of decentralized finance is gaining pace with the Flare network. Non-EVM blockchain Flare has secured…
The post cbXRP Launches on Base as Flare Boosts XRP DeFi Utility With $100M Liquidity appeared on BitcoinEthereumNews.com.
This integration allows users to borrow and lend cbXRP without selling their XRP holdings, connecting XRPL assets to Ethereum Layer 2 DeFi services. Flare Network has introduced FXRP, a decentralized and non-custodial version of XRP, alongside new liquid staking features and interoperability with other assets like Tether’s cross-chain USDT. Ripple’s XRP is making waves on decentralized finance as a Coinbase-backed variant, cbXRP, has appeared as a lending instrument on the Base blockchain on the lending platform Moonwell. This marks the first instance of cbXRP support within the Base ecosystem that opens access to new DeFi products to the user of the XRP tokens who want to access on-chain financial services. Coinbase’s cbXRP Debuts on Base The support offered by Moonwell enables people to borrow and lend cbXRP, which is a token presentation of XRP that is pegged 1:1 and minted by Coinbase. With this initiative, linking the assets on XRPL to a loan of USD Coin (USDC) no longer requires selling XRP assets in the offerings. Instead, available uniqueness in the XRPL can now be listed into cbXRP on Coinbase and secured in Moonwell to get loans in USD Coin (USDC) without selling out their assets in XRPL. This transfer de facto introduces the utility of XRP to Ethereum Layer 2 systems and allows the use of DeFi lending protocols. The introduction of an XRP asset to Base means new horizons of accessible asset issues based on XRP as the opportunity of an extended usage on an Ethereum-compatible governance is open. The development will mean an early step towards composable DeFi with XRP, as Moonwell is launching as the first lending market to provide cbXRP liquidity. Meanwhile, another initiative to enhance XRP in the context of decentralized finance is gaining pace with the Flare network. Non-EVM blockchain Flare has secured…
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