Popular tokenization platform Midas and Interop Labs have jointly launched a new product to allow XRP holders to earn up to 8% annual percentage yield (APY).
Pro-crypto journalist Eleanor Terrett reported today that Midas, in partnership with Interop Labs, has launched a new liquid staking token called mXRP on the XRP Ledger (XRPL).
The product, which was officially unveiled at the XRPL Seoul 2025 conference, is powered by Axelar’s XRPL EVM integration. With this integration, users can participate in the new DeFi opportunity without needing to transfer their tokens off the XRPL.
Notably, the initiative enables users to deposit XRP and mint mXRP on Axelar, while allowing them to earn annual yields of 6–8%. According to Terrett, this yield will be generated through a combination of off-chain and on-chain investment strategies, such as liquidity provision and market making.
Notably, professional asset managers will help to manage the investments. The team behind the product is marketing it as the first-ever DeFi product on the XRP Ledger.
Supported Regions
In the meantime, access to mXRP is limited to customers in Asia and Europe. The announcement did not specify when the product will be available for customers in other jurisdictions, including the United States.
Commenting on the launch, Axelar’s co-founder, Georgios Vlachos, noted that connecting the XRP Ledger to decentralized finance would unlock new use cases, including tokenization and trading integrations.
Midas co-founder and CEO Dennis Dinkelmeyer also echoed a similar sentiment. According to him, the newly introduced liquid staking token would unlock new use cases for XRP through strong community demand and DeFi integration.
He emphasized that mXRP could tap into the vast dormant supply of XRP by allowing holders to mint mXRP and use it in DeFi activities like liquidity provision and market making, while generating 6–8% annual returns.
XRP Holders to Access More DeFi Opportunities
The launch comes amid growing efforts to bring DeFi opportunities to XRP holders. As reported earlier, Cardano founder Charles Hoskinson revealed plans to grant XRP holders access to the world of DeFi.
He disclosed plans to position Midnight as the official DeFi layer of the XRP ecosystem, enabling XRP holders to pursue higher yields through lending, staking, and liquidity provision.
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