Flare Network Expands DeFi Presence with FXRP and XRPFi

The introduction of FXRP on the Flare Network has opened up new opportunities for XRP holders to participate in decentralized finance (DeFi) applications without having to sell their assets. By wrapping XRP into an ERC-20 token, users can now utilize their holdings within smart contracts, lending markets, DEXs, and yield vaults.

The FAssets system is the backbone of this functionality, utilizing a combination of Merkle proofs and network-wide attestation to verify XRPL payments. This approach provides a secure and reliable method for wrapping XRP without relying on centralized relayers or trusted multisigs.

Since its launch in September 2025, over 155 million FXRP has been minted, with approximately 140 million XRP deployed across various DeFi protocols on the Flare chain. The total value locked (TVL) on the network has reached around $151 million, primarily driven by Flare's XRP indexing strategy.