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 a $100 million liquidity commitment from VivoPower to introduce interoperability and smart contract capabilities to non-EVM assets, as reported earlier. The funding will be applied to expand on XRP-centered DeFi projects and yield solutions among institutions. VivoPower Enters The XRP Scene VivoPower is a sustainable energy solutions company that has an expanding presence in digital finance. It wants to establish itself as an industry leader in the development of XRP-oriented investment infrastructure. The collaboration with Flare highlights the growing institutional demand for increasing the usage of XRP in the programmable finance world. The XRP token is further tokenized on Flare as FXRP, which is a non-custodial, decentralized token that comes in 1:1 parity with XRP. It also incorporates the USDT0, a cross-chain version of Tether USDT, which utilizes the LayerZero Omnichain Fungible Token (OFT). The integration has led to a noticeable increase in on-chain liquidity, with Flare’s Total Value Locked (TVL) surpassing the previous record of $162 million on June 8, according to data from DeFiLlama. The current TVL of Flare in mid-June is about $144.94 million, a lot more than the $38 million it had at the end of April. Similarly, Flare has launched liquid staking abilities on FXRP to further empower the DeFi abilities of XRP. They can take their FXRP and be rewarded with forms of stXRP, similar to the Ethereum-based Liquid Staking Tokens (LSTs) offered by Lido. These processes form a developing framework in which XRP resources are being used more and more in permissionless financial services on various networks.