XRP’s ecosystem is expanding into decentralized finance (DeFi) with the introduction of mXRP, a tokenized yield product targeting estimated annual returns of 6%-8%. Midas, a tokenization platform focused on institutional-grade financial instruments, announced on Sept. 22 at the XRP Seoul 2025 conference the launch of the product on the Axelar network. Developed in collaboration with Interop Labs and powered by Axelar’s cross-chain infrastructure, the initiative was described as “a first-of-its-kind tokenized exposure product offering meaningful, XRP-denominated yield strategies.”

The unveiling before more than 3,000 XRP holders highlighted efforts to activate dormant XRP supply through structured yield opportunities. The product was designed with regulatory awareness and technical safeguards. The project team explained during the announcement:

The mXRP token is issued on the new XRPL EVM through audited smart contracts.

Midas, which manages more than $1 billion in total value locked and holds authorization for retail distribution in Europe, provides the structuring and infrastructure for the token. Axelar, promoted as the “gateway to onchain finance,” facilitates XRP’s integration into decentralized finance by connecting over 80 blockchains.

Georgios Vlachos, co-founder of Axelar and director at the Axelar Foundation, highlighted the broader significance:

By connecting the XRP Ledger to the world of DeFi for the first time, we are enabling compelling use cases, including tokenization and trading integrations.

“The mXRP token demonstrates the power of Axelar’s platform to deliver real-world applications, with security and configurability built in,” he added.

Functionally, mXRP requires users to deposit XRP collateral into a tokenized certificate structure that tracks onchain and offchain strategies. These strategies, managed by external “risk curators,” can involve market-making, liquidity provisioning, and similar approaches. Hyperithm has been designated as the initial curator. Strategy outcomes are reflected in the token’s performance through smart-contract logic, creating a direct link between yield generation and token value. Dennis Dinkelmeyer, co-founder and CEO of Midas, noted that the product establishes a transparent mechanism for XRP holders to access onchain yield strategies and potentially unlock new financial use cases within the ecosystem.

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