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First-Ever XRP-Backed Stablecoin Loans Go Live on Flare via Enosys
Sep 19, 2025
< 1 min read
by Mandy Williams
for CryptoPotato
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The Web3 software development entity Enosys has introduced a new type of stablecoin loan to the interoperability layer-1 network, Flare. These loans are backed by Ripple’s native cryptocurrency, XRP.
According to a press release sent to CryptoPotato, a Collateralized Debt Position (CDP) protocol will power the loans. It will allow XRP holders to mint overcollateralized stablecoins on Flare.
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