Flare Devs(@FlareDevHub):Here’s how @FlareNetworks makes this possible: XRP is minted as FXRP on Flare through FAssets, with the Flare Data Connector verifying the XRPL transaction. That FXRP can then be staked in Firelight, where it provides shared capital backing cover for DeFi protocols. Kraken’s USDC vault is now one of the products benefiting from this. @Firelightfi manages the coverage terms, pricing and limits onchain. If a covered incident results in losses, an independent validation process can trigger stablecoin payouts backed by the protocol’s capital. And with Flare Smart Accounts, users can even initiate the minting and staking process directly from an XRPL wallet.

2026.10.31 10:28

Here’s how @FlareNetworks makes this possible: XRP is minted as FXRP on Flare through FAssets, with the Flare Data Connector verifying the XRPL transaction. That FXRP can then be staked in Firelight, where it provides shared capital backing cover for DeFi protocols. Kraken’s USDC vault is now one of the products benefiting from this. @Firelightfi manages the coverage terms, pricing and limits onchain. If a covered incident results in losses, an independent validation process can trigger stablecoin payouts backed by the protocol’s capital. And with Flare Smart Accounts, users can even initiate the minting and staking process directly from an XRPL wallet.

MSB Intel@MSBIntel

2026.10.31 01:00

Kraken's Protected Strategies USDC vault now carries onchain cover from Firelight, backed by XRP staked on Flare. Kraken vaults have drawn more than $800 million in deposits since launching in January. @FlareNetworks