{"53a7f9c1f6a928a8aa780cf180a0420f":"Midas, in partnership with Axelar and Hyperithm, has launched mXRP, the first XRP yield product of its kind that is fully composable in DeFi.","c92433d19f8640190e2b7bbd34046308":" Summary ","dcaa1842c60d8489bfe05daef7f00622":" mXRP lets users mint a transferable ERC-20 token by depositing XRP as collateral, tracking market-neutral yield strategies. ","32a2630e4c1678c6f68f0e2216faef97":" The product targets a 6\u20138% base yield paid in XRP, with additional returns possible through deployment across DeFi protocols. ","d088b4d8aac141753569b52db0c64f73":" The launch comes amid a surge in XRP yield offerings, but unlike traditional \u201cEarn\u201d products, mXRP stands out as fully DeFi-compatible, offering composable utility. ","2c1b79241fe9deed61e88e25c954d0af":"Tokenization platform Midas has launched mXRP, a tokenized XRP product that operates on the XRP Ledger\u2019s EVM sidechain, with infrastructure and interoperability provided by Axelar. ","ee0e810e6832268e7c3636185c7e3bc8":"Users can create mXRP by depositing XRP as collateral, which then follows the performance of underlying yield strategies such as market-making and liquidity provision. Hyperithm, a third-party asset manager, will act as the \u201crisk curator,\u201d managing these strategies, Dennis Dinkelmeyer, co-founder and CEO of Midas, told The Block. The product targets a base yield of 6\u20138% paid out in XRP. ","0920c88a83f2f3d4c5cd25f39e1804a7":"In addition to the base yield, users can deploy mXRP across DeFi protocols to maximize earnings from their XRP holdings. \u201cMuch of the XRP supply has been dormant for years; mXRP provides a transparent mechanism for users to access onchain strategies,\u201d Dinkelmeyer explained. ","9676e8ef7449c913afd6ac506818a81e":"Georgios Vlachos, co-founder of Axelar, described the structure as making mXRP a \u201cperpetual buyer\u201d of XRP, with yield generated from strategies used to purchase additional XRP that is then distributed to mXRP holders. Vlachos added that if mXRP\u2019s AUM grow to $10 billion by June next year, the product could generate $700 million in annual buying pressure for XRP. ","fa087fa391266fccec211766680de5b1":"Access to mXRP is restricted in the U.S., U.K., and other sanctioned jurisdictions. ","ba45b5681bf113ae7671e7ff667332c9":" You might also like: BitGo IPO, Dogecoin ETF debut, FTX distributes $1.6b to creditors | Weekly Recap ","94224ac9024708cb77ecace0e3749ade":"How mXRP sets itself apart in XRP yield market ","19468b955d8201974ec61ae640231152":"The launch of mXRP comes amid a rising number of XRP-focused yield products entering the market, such as Doppler Finance\u2019s self-custody XRPfi Prime, which unlocks yield within a hardware wallet, and XRP yield accounts recently launched by MoreMarkets. ","7b1b5cb4beb26671a24bed0dc55b2173":"However, as Dinkelmeyer explained, those \u201cEarn\u201d products function like traditional savings or lending accounts, whereas mXRP is a transferable ERC-20 token compatible with DeFi. \u201cThat composability gives mXRP real utility beyond just holding it,\u201d he said.","ff018e0bd621fe6277b0a27a1d25d265":"It\u2019s also worth noting that XRP yield is beginning to attract significant institutional interest. Notably, Nasdaq-listed VivoPower has recently partnered with Flare to deploy $100 million in XRP through Flare\u2019s scalable FAssets framework, generating institutional-grade yield while reinvesting returns into its holdings.","fcadf916c06aa57678b3db8aedebc890":" You might also like: NFT sales jump to $109.8m, CryptoPunks recover 136% "}