Flare Networks CEO Hugo Philion accuses Ripple CTO David Schwartz of underestimating the lending potential on the XRP Ledger. While Ripple’s native XLS-66 lending protocol remains stalled at the validator voting stage, Flare has already deployed a lending infrastructure using wrapped XRP tokens. So far, $7.2 million has been borrowed in RLUSD stablecoin through Flare’s infrastructure, with 10.8 million wrapped XRP used as collateral. The company planned to deploy its own programmable logic to channel new financial flows into its ecosystem.
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