Midas Partners with Axelar to Launch mXRP, Unlocking Flexible XRP Utility with Yield

Midas has teamed up with Axelar to introduce mXRP, a cross-chain representation of XRP designed to make the asset more flexible in decentralized finance. By issuing mXRP through Axelar’s interoperability network, XRP holders can move value across multiple chains and access yield opportunities without abandoning the asset’s familiar brand and liquidity.

mXRP functions as a tokenized form of XRP that can circulate on EVM and non-EVM ecosystems connected by Axelar. The design centers on simple mint-and-redeem flows: users provide XRP to mint mXRP, deploy it in DeFi, and later redeem back to native XRP. This opens a broader menu of use cases—collateral for lending, liquidity in automated market makers, participation in structured yield vaults, and settlement for on-chain payments—while preserving a clear path back to the base asset.

For builders, mXRP expands the addressable market by enabling XRP-denominated products to live wherever the best liquidity or user demand resides. For market makers, it can tighten spreads and deepen books by connecting fragmented pools across chains. For institutions, standardized routing and auditability make it easier to integrate XRP exposure into multi-chain workflows.

Yield remains a core attraction. Instead of leaving XRP idle, holders can deploy mXRP into curated strategies, from lending markets to liquidity provisioning with incentives. As always, participants should weigh risks: smart-contract bugs, bridge or routing failures, de-pegs relative to native XRP, and market slippage. Sensible practices—diversification, monitoring collateral ratios, and using reputable protocols—can help manage these exposures.

The launch of mXRP is ultimately about optionality. It gives the XRP community a practical alternative path to utility and yield, connecting familiar value to the expanding universe of on-chain finance. If adoption grows, expect mXRP pairs, collateral integrations, and payment rails to appear across multiple chains—bringing XRP liquidity to where users and applications already are.

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