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About 225 million XRP has been deposited as collateral for stablecoin loans on DeFi lending protocol Maple Finance (SYRUP), with the collateral valued at roughly $280.2 million, CryptoSlate reported. The amount accounts for a significant share of total DeFi assets deposited on the XRP Ledger (XRPL).
The principal on three loans backed by the collateral totals $151.8 million, with maturities on Dec. 4, Dec. 12 and Jan. 15, according to the report. CryptoSlate said the amount of XRP collateral could decline after the loans mature, depending on whether they are repaid and the collateral is released.