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Enosys introduces XRP-backed stablecoin protocol using Liquity V2 fork

Enosys introduces XRP-backed stablecoin protocol using Liquity V2 fork

Cryptobriefing2025/09/19 23:00
By:Cryptobriefing

Key Takeaways

  • Enosys launched an XRP-backed stablecoin protocol on the Flare blockchain using a fork of Liquity V2, enabling users to mint stablecoins by depositing FXRP.
  • Flare is a layer-1 blockchain integrating smart contracts and decentralized data oracles, supporting the DeFi ecosystem for payment tokens like XRP.

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Enosys announced the upcoming launch of a new product called Enosys Loans, described as the first collateralized debt position protocol to leverage XRP as collateral for minting a stablecoin.

The platform will operate on Flare, a layer-1 blockchain network that integrates smart contracts and decentralized data oracles.

Users can mint stablecoins by depositing FXRP, a wrapped version of XRP designed for use on the Flare network.

The launch reflects a broader trend of payment-focused cryptocurrencies like XRP being adapted for yield-generating DeFi activities.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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