Flare: FXRP Borrowing of RLUSD Goes Live on Ethereum via Morpho - 18 Sep 2026

Borrowing RLUSD against FXRP collateral is now live on Ethereum through a Morpho market. XRP deposited from an XRPL wallet is minted to FXRP on Flare and posted as collateral via Flare Smart Accounts, a non-custodial flow that requires no new wallets or manual bridging.The routing layer is the practical change. Flare Smart Accounts move XRP from an XRPL wallet into an Ethereum lending market end-to-end, so holders can post collateral and draw RLUSD without handling bridges or custody handoffs. In effect, Flare operates as an extension of the XRPL for XRP-collateralized credit, giving FLR a direct utility source tied to borrowing activity rather than token transfers. For RLUSD, the market adds a venue where the stablecoin is supplied against XRP exposure. The open question is scale: usage of the Morpho market, and the collateral flowing through Flare, now depends on how many XRP holders adopt the flow.Borrowing against FXRP is live today on Ethereum. Delivery back to an XRPL wallet is the next leg.