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      Flare Networks Enhances XRP Utility with FXRP Yield Generation

      Flare Networks has introduced a significant update to its platform, allowing XRP holders to mint FXRP, a 1:1 representation of XRP, and deposit it into yield-generating vaults. This feature, launched on July 28, 2026, simplifies the process by requiring only a single signature from an existing XRP Ledger (XRPL) wallet, eliminating the need for complex bridging protocols or separate Ethereum Virtual Machine (EVM) wallets.

      Since the launch, the deployment of FXRP in decentralized finance (DeFi) has surged from 82 million to 144 million, marking a 75% increase in just five months. Additionally, over 40 million XRP is currently earning yield through integrated wallets such as Xaman and D’CENT. The vault ecosystem has also expanded, with Monarq offering a multi-strategy XRP Yield Vault targeting annual percentage yields (APY) of 3-4%, and Clearstar deploying over 33 million FXRP across various lending and liquidity protocols.

      FXRP operates within Flare's FAssets system, which enables the representation of non-smart-contract tokens on its EVM-compatible network. Each FXRP token is backed 1:1 by XRP collateral secured on the XRPL, ensuring that users retain custody of their underlying assets. This update builds on the foundation laid by the earnXRP vault, which was launched in December 2025, and introduces more sophisticated yield generation strategies compared to the earlier fixed-rate options.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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