New Breakthrough in the Crypto World: mXRP Token Boosts Ripple (XRP) Utility

Jakarta, Pintu News – Tokenization platform Midas, in collaboration with Interop Labs and Axelar, recently launched a liquid staking token named mXRP. The token is designed to extend the utility of Ripple (XRP) in the Decentralized Finance (DeFi) ecosystem by offering a yield of up to 8%. This launch follows the success of stablecoins backed by Ripple (XRP), which have also increased the altcoin’s utility in the market.

mXRP Launch Details and Impact on the Ripple (XRP) Ecosystem

Midas announced the launch of the mXRP token on Axelar as the first tokenized exposure product to offer a yield strategy nominated in Ripple (XRP). The token is issued on the new XRPL EVM via audited smart contracts. The Axelar bridge connects the EVM side of the XRPL chain with the XRPL, enabling the tokenization of this Ripple (XRP) product across more than 80 blockchains.

Midas provides the structure and infrastructure for this liquid staking token, while Axelar facilitates the integration of Ripple (XRP) assets into the protocol. As such, mXRP can be deployed across various DeFi protocols, opening up access to a genuine lending and integration market, which promises net returns of between 6% to 8% per year, net of fees.

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Advantages and Expectations of mXRP

The Axelar network identified that while Ripple (XRP) has wide distribution, the asset is underutilized with low yields and is not compatible with DeFi. mXRP is designed to be liquid and scalable with a targeted yield of up to 10% per annum. The product is expected to be a new standard in yield products by incorporating a delta-neutral strategy managed by a trusted asset manager.

Midas CEO, Dennis Dinkelmeyer, emphasized that mXRP provides a transparent mechanism for users to access on-chain strategies. With strong demand from the community and DeFi integration, mXRP is expected to open up new use cases for Ripple (XRP), activating assets that have been sitting unused.

Conclusion: mXRP and the Future of Ripple (XRP) in DeFi

The launch of mXRP marks an important step in the evolution of Ripple (XRP) as an asset in the DeFi ecosystem. With its robust infrastructure and innovative yield strategy, mXRP not only increases the utility of Ripple (XRP) but also offers attractive investment opportunities for token holders. Going forward, initiatives like this are expected to continue enriching the DeFi landscape with more efficient and profitable solutions.

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Reference

• Coingape. XRP’s DeFi Utility Expands with Launch of Liquid Staking Token MXRP. Accessed on September 23, 2025