Ripple's RLUSD Stablecoin Enables XRP Holders to Borrow on Ethereum

XRP holders can now use the wrapped version of XRP (FXRP) as collateral in a Ripple‑issued RLUSD vault on the Ethereum blockchain. The vault, built on the Morpho lending protocol, has a capacity of about $280 million and lets users draw the RLUSD stablecoin without selling their XRP, preserving exposure to any price upside.

The integration connects Ripple’s native token to Ethereum’s decentralized finance ecosystem, expanding RLUSD’s use cases and positioning it against established stablecoins such as USDT and USDC. By borrowing RLUSD, holders obtain liquid dollars for trading, payments or other strategies while their XRP remains locked as collateral, subject to liquidation if its value falls below required thresholds.