For years, billions of dollars in XRP have remained idle in digital wallets, largely untapped for yield-generating opportunities. That dormancy ends now with the launch of mXRP, a groundbreaking tokenized product that transforms stagnant holdings into yield-generating assets.
Tokenization platform Midas has joined forces with Interop Labs to introduce what they claim represents the first tokenized XRP product of its kind. The partnership unveiled mXRP at XRP Seoul 2025, presenting the innovation to over 3,000 XRP enthusiasts who witnessed this potential game-changer firsthand.
The new product targets base yields between 6-8% Annual Percentage Yield, with payments distributed in XRP tokens. Users mint mXRP by staking XRP as collateral within a tokenized DeFi framework that generates yield through advanced strategies. Third-party asset managers, called “risk curators,” handle these strategies, which encompass market-making and liquidity provision activities. Hyperithm, a premier digital asset management firm, currently serves as the primary curator for mXRP operations.
Dennis Dinkelmeyer, Midas co-founder and CEO, emphasized the transformative potential of their creation.
“Much of the XRP supply has remained dormant for years; mXRP provides a transparent mechanism for users to access on-chain strategies.”
Dennis Dinkelmeyer, Midas co-founder and CEO
The platform enables XRP holders to finally put their assets to work while maintaining exposure to the underlying cryptocurrency.
DeFi Integration Unlocks Additional Opportunities
Beyond its attractive base yield, mXRP offers another way of earning through liquidity pools. By adding mXRP to liquidity pools, users can earn additional profits from trading fees generated by pool activity. This approach maximizes returns without long-term lockups, allowing flexible withdrawals and continuous growth through compounding. This also distinguishes mXRP from typical staking options, which function like basic savings accounts with limited returns.
The token was launched yesterday on the XRP Ledger’s Ethereum Virtual Machine sidechain, utilizing Axelar’s robust infrastructure. Georgios Vlachos, Axelar protocol co-founder and foundation director, positions their technology as “the Gateway to Onchain Finance.” He explains that Axelar enables smart contracts on XRPL while serving as the interoperability provider for XRPL EVM, where Axelar-bridged XRP functions as the gas token required for mXRP minting.
Axelar will bridge mXRP across major blockchain ecosystems, creating DeFi opportunities for users to deposit their tokens and earn additional yield beyond the base returns. Vlachos projects that users could potentially earn over 10% annually by combining the 7% base yield with an additional 3% through strategic DeFi deployment.
Creating Perpetual Buying Pressure
The yield structure transforms mXRP into what Vlachos describes as a “perpetual buyer” of XRP. Revenue generated from underlying strategies purchases additional XRP tokens, which are then distributed to mXRP holders. This mechanism creates continuous buying pressure that could significantly impact XRP market dynamics.
Vlachos provided a compelling example: if mXRP assets under management reach $10 billion by June 2026, the product could generate $700 million in annual revenue at a 7% yield rate, translating into $700 million of annual XRP buying pressure.
The launch comes amid growing competition in XRP-focused yield products. Flare and MoreMarkets recently introduced on-chain XRP yield accounts, while Bitrue and Doppler Finance announced competing earn products.
Due to regulatory compliance requirements, Midas will restrict mXRP access to users in the U.S., UK, and other sanctioned jurisdictions. It hopes that mXRP will not just prove to be a new product, but a step toward redefining how XRP fits into the broader DeFi landscape.
