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XRP is becoming collateral for real loans and the first market is already dominated by whales
XRP is beginning to support live dollar borrowing on Ethereum, though the market remains heavily concentrated among a handful of borrowers. A Morpho market backed by FXRP, a tokenized representation of XRP, had about 7.18 million RLUSD in outstanding loans against 10.76 million FXRP as of Oct. 1....
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A Morpho market allows you to use FXRP to order RLUSD in Ethereum without selling XRP, but three addresses concentrate 93% of the debt and a major settlement could quickly alter its size.
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Cryptocurrency News | Cryptocurrency Prices | Market Cap
Cryptocurrency News | Cryptocurrency Prices | Market CapXRP is becoming collateral for real loans and the first market is already dominated by whales
Morpho shows XRP can back dollar loans today, but the next test is whether native XRPL lending attracts anyone beyond the first whales.
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