Derive has begun accepting Flare's FXRP as collateral for XRP options and perpetual futures, allowing XRP holders to mint tokenized XRP through Flare's FAssets system and trade from a single Portfolio Margin V2 account without handing assets to a centralized custodian. Derive's XRP options are cash-settled in USDC, so in-the-money contracts pay out in stablecoins while FXRP remains posted as collateral, leaving sellers exposed to margin calls and liquidation if they lack enough USDC to settle. The launch adds derivatives to FXRP's growing DeFi footprint after its August 3 approval for Sentora's RLUSD lending vault on Morpho and follows Flare's Songbird-based FAssets v1.1 upgrade, while Flare said more than 155 million FXRP had been minted within seven months of its September 2025 mainnet launch. Derive, which runs options, perpetual futures and spot trading on Lyra Finance infrastructure, had the largest 30-day notional onchain options volume among venues tracked by DefiLlama, where its total value locked was near $118 million, according to Flare.