Flare Launches USD₮0 to Boost XRP DeFi Ecosystem and Cross-Chain Liquidity

Flare Community has formally launched USD₮0, an omnichain deployment of the world’s largest stablecoin, USDT. Powered by LayerZero’s Omnichain Fungible Token (OFT) know-how, USD₮0 permits seamless, gasless transfers throughout main blockchains like Ethereum, Arbitrum, Optimism, Sei, and now Flare, with out counting on wrapped tokens or third-party bridges.

With USD₮0 dwell, Flare goals to instantly join the $140 billion USDT market to XRP, the second-largest non-smart contract asset. This strategic transfer enhances liquidity and opens new alternatives for XRP DeFi initiatives, together with FXRP and liquid-staked XRP belongings. Since its launch in January, greater than $2 billion value of USD₮0 has been bridged on-chain, highlighting speedy adoption as a DeFi liquidity normal.

Flare customers can now ship stablecoin transactions at zero value, considerably reducing remittance and crypto fee obstacles. Moreover, USD₮0 holders can entry the USD₮0 Increase program, providing as much as 30% APY paid in rFLR tokens by means of institutional-grade liquidity platforms like SparkDEX and Kinetic.

Hugo Philion, Co-Founder and CEO of Flare, emphasised the significance of a globally accessible, extremely liquid stablecoin for DeFi progress, stating, “USD₮0 unifies liquidity throughout chains and establishes a sturdy capital base important for XRP DeFi.”

Current bridged USDT holders can simply migrate to USD₮0 utilizing the Flare Portal migration instrument. With sooner, extra capital-efficient transfers in comparison with conventional bridges, USD₮0 strengthens Flare’s function as a key participant in cross-chain interoperability and DeFi enlargement.