Flare launches its first FAsset, opening new utility for XRP holders in lending, liquidity, and beyond.
Flare has deployed its first FAsset, FXRP, on mainnet, giving XRP its first direct route into Flare’s EVM DeFi environment. Holders can now mint FXRP themselves or swap it on supported DEXs to start using it across trading, lending, and liquidity pools, with liquid staking set to follow.
XRP has long been one of the biggest cryptocurrencies by market cap — peaking above $170 billion — but most of that value has stayed outside DeFi. Unlike ETH or SOL, XRP wasn’t designed with smart contracts, making it hard to plug into protocols. That changes with the launch of FXRP, which officially went live on Flare on September 24th
What is FXRP?
FXRP is a one-to-one representation of XRP on Flare, an EVM-compatible blockchain focused on bringing non-smart contract assets into DeFi. Once minted, FXRP can be used for decentralized trading, liquidity provision, or borrowing. Liquid staking via Firelight is also planned, giving XRP holders a way to earn staking rewards while keeping tokens liquid.
Security measures
The FAssets protocol has been built with multiple layers of security. It has undergone at least four independent audits by firms such as Zellic and Coinspect, alongside community-led reviews through Code4rena. Bug bounty programs with Immunefi and 24/7 monitoring by Hypernative add further protection.
These safeguards are critical because FAssets handle cross-chain processes like collateral management and trustless bridging. For institutions and large holders, continuous assurance is seen as a requirement, not just a one-off check.
Minting FXRP
The direct way to get FXRP is to mint it yourself:
- Acquire XRP on the XRP Ledger (XRPL).
- If your XRP is on an exchange, withdraw it to a self-custody wallet that supports Flare and XRPL, which are Ledger and Bifrost.
- Go to AU or Oracle Daemon and follow the steps to mint FXRP.
To ensure a secure rollout, Flare has capped the minting at 5 million FXRP during the first week, with the cap increasing gradually over time.
For step-by-step guidance, watch the FXRP minting tutorial: YouTube Guide
For technical details, see the documentation: FAssets Overview
Swapping on DEXs
- FXRP is also available through decentralized exchanges on Flare.
- Acquire any supported token on Flare.
- Visit a DEX like SparkDEX, BlazeSwap, or Enosys
Connect your wallet and use the Swap feature to exchange your tokens for FXRP.
Use cases for FXRP
FXRP is fully composable within Flare’s DeFi stack:
- Trading & Liquidity – add liquidity on SparkDEX, BlazeSwap, or Enosys (e.g., FXRP/USDT₮0 pairs)
- Borrowing & Lending – supply FXRP on Kinetic or borrow against it.
- Liquid Staking – coming soon via stXRP from Firelight.
To support adoption, Flare is distributing rFLR rewards to FXRP pools at launch. Target APRs range from around 5% on supply markets to up to 50% on FXRP/USDT₮0 liquidity pools. Longer term, the roadmap includes CDP-based stablecoin loans on Enosys, yield vaults, and structured products built around stXRP.
A new phase for XRP
The arrival of FXRP on Flare opens up DeFi access for one of the industry’s largest assets. XRP holders now have the option to borrow, trade, and earn yields — use cases that were previously out of reach. For developers, FAssets serve as plug-and-play building blocks, enabling XRP to integrate directly into DeFi protocols.
This launch also lays the foundation for what Flare calls “XRPFi”: an effort to give XRP a broader role within decentralized finance. Looking ahead, Flare plans to expand FAssets to BTC and DOGE, bringing more non-smart contract assets into its ecosystem.
👉Full FXRP announcement and details
