“XRP Gets DeFi Superpowers Without Custody Trade-Offs”
MoreMarkets and blockchain infrastructure provider Flare have partnered to launch the XRP Earn Account, a new on-chain yield solution for XRP holders. This initiative is designed to bridge the gap between XRP and decentralized finance (DeFi), allowing users to generate yield on their XRP without relinquishing control of their assets. Unlike previous custodial solutions, this offering is entirely non-custodial, leveraging Flare’s FAssets protocol to mint a Flare-based version of XRP, known as FXRP, which can be deployed in DeFi strategies such as lending and liquid staking [1].
The XRP Earn Account operates through a streamlined process where users initiate the bridging of XRP from their native XRP Ledger (XRPL) wallets to the Flare network. This conversion into FXRP is secured by collateral and verified by Flare’s on-chain oracles [2]. Once on Flare, the FXRP is automatically deployed into yield-generating strategies by MoreMarkets, with all rewards converted back into XRP and distributed directly to the user’s wallet. This eliminates the need for users to interact with multiple blockchains or complex smart contracts [3].
The initiative is not only targeted at retail users but also aims to attract institutional adoption. Flare’s existing partnerships with institutional custodians, including BitGo, Fireblocks, and Hex Trust, demonstrate the platform’s commitment to security and compliance [1]. The Firelight protocol, which facilitates the liquid staking of FXRP, is expected to evolve further, offering vaults and liquid staking tokens tied to economically secured services—features intended to provide additional guarantees for DeFi applications [1].
The launch of the XRP Earn Account represents a broader push to expand XRP’s utility beyond its traditional role in cross-border payments. The initiative aligns with the emerging trend known as “XRPFi,” which seeks to integrate XRP into decentralized financial systems. On Flare, experiments with tokenized bonds and private credit have already demonstrated the potential for XRP-backed infrastructure in more complex financial markets [2]. This transition aims to reposition XRP as a programmable asset capable of functioning within emerging on-chain capital markets [2].
The collaboration between MoreMarkets and Flare introduces a unique and comprehensive yield solution for XRP. It provides a non-custodial, on-chain experience that simplifies DeFi for users while ensuring real yield generation. By removing the complexities associated with traditional DeFi strategies, the partnership is positioning XRP as a more versatile asset, with the potential to gain traction among both retail and institutional investors [3].
The partnership underscores the growing interest in developing DeFi infrastructure for XRP, which has historically lacked native smart contract support. The XRP Earn Account is already generating yield for early adopters, with weekly payouts in XRP. As the platform continues to expand, the inclusion of additional lending markets on Flare is expected to further enhance the liquidity and utility of XRP within the DeFi ecosystem [3].
Source: [1] MoreMarkets chooses Flare to power the future of XRP yield (https://flare.network/news/moremarkets-xrp-earn-account) [2] XRP Holders Can Now Earn Yield On-Chain Through Flare (https://www.ccn.com/news/crypto/xrp-defi-flare-partnership-secure-on-chain-yield) [3] XRP Holders Get New Yield Opportunity as MoreMarkets Partners with Flare (https://cryptopotato.com/xrp-holders-get-new-yield-opportunity-as-moremarkets-partners-with-flare/)
