XRP's DeFi Experiment Hits 145M FXRP Milestone

XRP's expansion into decentralized finance has hit a new milestone, with roughly 145.2 million FXRP minted and 130 million deployed across DeFi in just one year since Flare launched the asset.

About 89.5% of the reported FXRP supply is being used as collateral, in lending markets and inside yield strategies, suggesting holders are increasingly using XRP as a programmable asset without changing the XRP Ledger itself.

FXRP was designed to make XRP programmable by verifying the underlying payment and minting corresponding FXRP. The system is described as overcollateralized, with backing XRP remaining on XRPL rather than migrating permanently onto another chain.

The demand for FXRP arrived quickly, filling the original 5 million minting cap in just four hours, and supply had passed 90 million by the end of January.