According to Flare Network, there’s now a stablecoin backed with XRP running on Enosys Liquity V2. The announcement coincides with a new milestone for the XRP Ledger. The upgrade results in increased liquidity of XRP on the blockchain and expands its utility in the decentralized finance space. Initially, the stablecoin will be pegged to XRP on Flare (FXRP) with the Wrapped Flare token (wFLR) as collateral.