XRP is finally seeing real traction in decentralized finance as demand surges for mXRP, a new liquid staking token that lets holders put idle XRP to work while keeping flexibility across DeFi. Built on the XRP Ledger’s Ethereum-compatible sidechain and powered by the Midas platform with Axelar support, the product filled its initial 6.5 million XRP vault within hours, pushed the cap to 10 million, and then expanded again as deposits climbed. By October 2, the staking vault value topped $30 million and the team lifted capacity toward 20 million tokens, reflecting strong appetite from long-time XRP holders who want straightforward yield without locking into complex schemes. The model targets up to around 8% annual returns and turns mXRP into a token that can move through protocols for liquidity, lending, and market-making, which helps deepen XRP’s on-chain use and narrows the gap with more mature DeFi ecosystems.
Alongside staking momentum, developers are adding tools aimed at regulated asset issuance through the XRPL’s new Multi Purpose Token standard, which bakes in compliance features like freeze and clawback controls, identity-gated transfers, and quick, low fee settlement. Each operation consumes a small XRP fee that is burned, and issuers must lock reserves for ledger objects, incrementally tightening supply as activity grows. Together, liquid staking and real-world asset tokenization mark a strategic shift for XRP from simple payments to broader financial utility, signaling a next phase where liquidity, yield, and institution-ready rails can live on the same ledger.
