Flare's FXRP Celebrates One Year with Expanded Onchain Capabilities
Flare's FXRP has reached its first anniversary since going live on September 24, 2025. The token represents XRP ($1.51 · Live) as an ERC-20 token and is backed by XRP on the XRP Ledger through the FAssets system.
In the past year, several protocols have built products around FXRP. Kinetic introduced lending markets, while SparkDEX, BlazeSwap, and Enosys developed liquidity venues. Firelight uses FXRP to build onchain cover, turning staked XRP into capital designed to provide capital against risks such as exploits, oracle failures, and bad debt.
Flare has also made changes for broader distribution. For instance, FAssets v1.3, which was released in May, added destination-tag minting. The feature is intended to make integrations with exchanges and custodians easier.
The network is developing Flare Confidential Compute and Protocol Managed Wallets, with the initial deployment path planned through Songbird. These systems are intended to support assets beyond XRP, allowing them to be verified and used in applications without requiring the underlying asset to leave its original ledger.