FXRP, Flare's wrapped version of XRP, has completed its first year on the network as financial applications built around the token continue to expand. The asset launched on September 24, 2025, as the first token issued through Flare's FAssets system, with its initial 5 million minting limit filled within approximately four hours.
FXRP represents XRP on Flare as an ERC-20 token, backed by XRP held on the XRP Ledger. Flare's oracle protocol FDC verifies activity on the XRPL to maintain this backing.
Growing Application Ecosystem
Throughout the year, multiple protocols have developed products around FXRP. Kinetic introduced lending markets, while SparkDEX, BlazeSwap, and Enosys created liquidity venues. Spectra brought fixed-rate and yield trading functionality, and Firelight uses staked FXRP to provide coverage against risks including exploits and oracle failures. Upshift's earnXRP and Clearstar developed vault-based strategies, while Enosys enabled the use of FXRP as collateral for debt.
In August, a Morpho market built with Sentora allowed FXRP to be supplied as collateral for borrowing RLUSD on Ethereum, expanding its use into credit markets beyond liquidity and yield applications.
Improved Accessibility and Distribution
Flare Smart Accounts have connected XRPL activity with applications on Flare, with integration into the Xaman wallet occurring in February 2026 through earnXRP. Subsequent updates added broader wallet support and simplified some supported processes to a single XRP Ledger signature.
The network expanded FXRP distribution in May 2026 with FAssets v1.3, which added destination-tag minting to simplify integrations with exchanges and custodians. FXRP also expanded beyond Flare to Ethereum and Base.
In May, Flare partnered with D'CENT Wallet to provide hardware wallet users direct access to XRP yield products through Flare Smart Accounts, allowing access to the Monarq XRP Yield Vault and earnXRP with two XRP Ledger signatures.
Network Changes
Flare implemented FIP.16, which reduced annual FLR token issuance from 5% to 3% and lowered the annual issuance ceiling from 5 billion FLR to 3 billion FLR.
The network is developing Flare Confidential Compute and Protocol Managed Wallets, with initial deployment planned through Songbird. These technologies are designed to support assets beyond XRP by leveraging data protocols integrated into network consensus.
