FXRP has reached its first anniversary on Flare as the network expands the number of financial applications available to XRP holders. The token went live on September 24, 2025, as the first asset launched through Flare’s FAssets system.
Its initial 5 million minting limit was filled within roughly four hours.
Flare’s Expansion
The milestone comes after a year of development around lending, liquidity, staking, and yield products. FXRP represents XRP on Flare as an ERC-20 token. The asset is backed by XRP on the XRP Ledger through the FAssets system. Flare uses its oracle protocol FDC to verify activity on the XRPL.
Several protocols have since built products around the token. Kinetic introduced lending markets. 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. Spectra brought fixed-rate and yield trading to the asset. Upshift’s earnXRP and Clearstar added vault-based strategies. Enosys also introduced a way to use the token as collateral for debt.
Access from the XRP Ledger has also been a focus. Flare Smart Accounts connect XRPL activity with applications running on Flare. The system was integrated with Xaman in February 2026 through earnXRP. Later updates added more wallet support and reduced some supported processes to a single XRP Ledger signature.
The network 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. FXRP also expanded in 2026 to Ethereum and Base.
Another development came in August. A Morpho market built with Sentora allowed it to be supplied as collateral for borrowing RLUSD on Ethereum. The development expanded FXRP’s use into credit markets, beyond liquidity and yield applications. Flare also made changes to its token economics. FIP.16 cut annual FLR issuance from 5% to 3%. The proposal also reduced the annual issuance ceiling from 5 billion FLR to 3 billion FLR.
Additionally, the network is developing Flare Confidential Compute and Protocol Managed Wallets. The initial deployment path for these systems is planned through Songbird.
Flare said the technology is intended to support assets beyond XRP. Its data protocols are integrated into network consensus, which lets assets issued elsewhere be verified and used in applications without requiring the underlying asset to leave its original ledger. FXRP is the first production example of that model on Flare.
Partnership With D’CENT
In May, Flare expanded its XRPFi push with D’CENT Wallet to give its hardware-wallet users a direct way to access XRP yield products. The integration was built around Flare Smart Accounts, so users did not need to move to another chain or hold a separate gas token.
Instead, they could access the Monarq XRP Yield Vault and earnXRP through two signatures on the XRP Ledger. The move was part of the newly formed XRP Alliance, which also includes Doppler, Banxa, and Squid.
Source: CryptoPotato
