LendProtocol, a centralized lending service, has launched a fixed-rate lending platform for $XRP and $RLUSD holders on the $XRP Ledger. The service offers a 12% annual rate. Borrowers must provide collateral worth 120% of the loan amount.
LendProtocol operates as a centralized lending service rather than a native $XRP staking platform. The $XRP Ledger does not use Proof-of-Stake and does not distribute staking rewards. Users who want to earn returns on $XRP therefore need to use third-party lending, exchanges, or other yield products.
According to LendProtocol, the platform has facilitated more than 743 million $XRP in loans and currently serves over 13,713 active lenders. The company says borrowers pay 12.7% APR, while depositors receive 12%, with the difference covering the platform’s operating spread.
Users can deposit $XRP or $RLUSD, while collateral can include Bitcoin, Ethereum, Solana, $XRP, $RLUSD, and USDT. LendProtocol says it takes direct lending exposure if a borrower defaults. The platform also uses cold storage, data encryption, and two-factor authentication.
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