The Flare network now supports FXRP, a wrapped version of XRP designed to integrate the digital asset into the decentralized finance (DeFi) landscape. This integration represents a noteworthy development for both Flare and the XRP community, enabling XRP to function as a 1:1 ERC-20 compatible token on the Flare blockchain.
Flare’s FAssets System Activated, Attracting Over $7.1 Million in XRP Within Hours
Shortly after its activation, the FAssets system, Flare’s mechanism for handling wrapped assets, saw an influx of XRP, with over $7.1 million locked within the core vault. This data, reported by XRP validator @Vet_XO, indicates substantial early interest in the new FXRP token. The amount continues to rise as users actively mint FXRP.
Flare launched fXRP.
So far $7,100,000 is in the core XRP Vault, steadily increasing.
Minting is already happening and i was looking to checkout how the on chain stats are doing on this launch.
This is a decentralized process btw. pic.twitter.com/HVxrut8FhG
— Vet 🏴☠️ (@Vet_X0) September 24, 2025
Through Flare’s FAssets infrastructure, users can now lock their XRP holdings and mint FXRP. This process provides a decentralized and collateralized avenue for XRP holders to participate in DeFi services on the Flare network.
The FAssets system opens doors for XRP to be utilized as collateral, liquidity, or staking capital within various DeFi protocols operating on Flare. This expands the utility of XRP beyond traditional payment and money transfer applications, unlocking its potential within the broader decentralized finance ecosystem.
RippleX, Ripple’s innovation and development division, emphasized that FXRP provides access to lending, borrowing, and yield-generating activities previously unavailable to XRP holders. This newfound potential is attracting attention from institutional players. For example, Everything Blockchain has integrated Flare’s XRP DeFi framework into their crypto treasury management strategy.
Flare co-founder Hugo Philion described the launch as the result of years of dedicated development and expressed gratitude to validators, infrastructure providers, and partners who have supported the network from its inception.
Philion also mentioned a crucial conversation in 2018 with Ripple’s David Schwartz, also known as Joel Katz, that significantly influenced the project’s direction. He further stated that this launch marks the beginning of a new phase for Flare, hinting at upcoming integrations and DeFi applications within the next year.
This is a momentous moment and both the culmination of work we have been doing since the beginning and also the start of the next phase.
One of many momentous things that will be coming in the next 12 months.
I would really like to thank the whole team at Flare for helping… https://t.co/lry7AaLYiV
— Hugo Philion ☀️ (@HugoPhilion) September 24, 2025
FXRP Debut Ignites Excitement While Underscoring DeFi Risks
Feedback from the community suggests that integrating XRP into the DeFi space through Flare and FXRP will increase the token’s long-term utility and value. The decentralized design of FXRP, with every action transparently recorded on the blockchain, aims to inspire trust. Furthermore, Flare has also unveiled an XRP-backed stablecoin that will reinforce XRP’s position within the decentralized finance sector.
However, prominent community member and XRPL validator Vet cautions investors that all investments that offer yield or rewards carry inherent risks. Vet emphasized that every level of yield comes with a corresponding level of risk, also stating that some projects may collapse or turn out to be fraudulent, resulting in investor losses.
Let me be VERY clear.
Any of the yield bearing tokens, yield offerings no matter if on Flare, EVM Sidechain, Midas, Securitize or whoever comes next for XRP has risks.
Every ounce of yield is paid by some amount of risk.
and yes some of the projects will rug and go belly up.
— Vet 🏴☠️ (@Vet_X0) September 24, 2025