FXRP Celebrates One-Year Anniversary with Rapid Expansion into DeFi Markets
Flare's programmable representation of XRP, FXRP, has marked its first anniversary as it continues to expand into decentralized finance (DeFi) and cross-chain markets. Launched on September 24, 2025, FXRP was initially used for liquidity experiments but has since grown into a full suite of DeFi applications.
The FAssets system, which allows assets from blockchains without general-purpose smart contracts to be brought onto the Flare network, has been instrumental in FXRP's growth. With FXRP tracking XRP on a one-to-one basis, users can now access a range of financial applications within Flare's Ethereum Virtual Machine-compatible DeFi ecosystem.
In just over a year, FXRP has expanded beyond basic minting to function across lending markets, liquidity protocols, yield vaults, and liquid-staking platforms. With more than 155 million FXRP minted by mid-2026, the vast majority of this capital is actively deployed across DeFi protocols rather than sitting idle in wallets.
The growth of FXRP has also led to a significant increase in user engagement, with nearly 24,000 Smart Accounts created and over 40 million XRP currently earning yield through Smart Account-enabled integrations. The Clearstar Flare XRP Yield Vault alone holds over 33 million FXRP, while Upshift's vault platform holds another 7.3 million FXRP in the Monarq XRP Yield Vault.