Oracle network Flare is diving deeper into the DeFi world with the launch of FXRP as it seek to empower the XRP ecosystem beyond the current offerings on XRPL.
On April 10, Layer 1 network Flare announced a proposal to launch XRPFi. This system delivers Decentralized Finance (DeFi) functionalities like staking, lending, and borrowing to the holders’ of the Ripple-associated digital currency. This new development is designed to meet the increasing demand of DeFi-hungry, the coin’s holders.
Flare Users to Receive Passive Income of XRP Staked
With the integration of these DeFi features, XRP holders can earn incentives on their holdings, even beyond the price performance of the crypto asset.
This is possible when users stake and lend their stash to the network at predetermined rates. Participants can also borrow and trade assets, as these options will be made available. In addition to the debut of XRPFi, Flare also hinted at the coming of FXRP.
The foundation is set. Flare’s DeFi stack is ready.
Next: FXRP — giving XRP programmability and purpose in DeFi.
Borrow. Lend. Trade. Stake.
XRPFi is coming. pic.twitter.com/3n0NGB9Hhb
— Flare ☀️ (@FlareNetworks) April 10, 2025
In its X post, the L1 network described FXRP as an initiative that could give XRP programmability and purpose in DeFi. Flare’s vision to integrate the coin’s holders into its broadening DeFi ecosystem has lingered for a long time.
Hugo Philion, the protocol’s co-founder, announced in March that the protocol will introduce several low-risk staking opportunities. The goal is to offer passive income to the coin’s holders.
Generally, DeFi functionalities native to the XRPL are significantly limited. However, blockchain payment firm Ripple is putting much effort into changing that narrative, especially with the imminent new programmability.
Staking Services Gains Traction Across Board
The concept of staking is beginning to get the attention that key industry players have always desired.
This pivot may result from a more crypto-friendly administration in the United States. Donald Trump’s rule has made regulators and financial agencies more considerate of crypto-related proposals, including staking.
California-based crypto exchange Kraken reintroduced staking services for its US customers about ten days after Trump became President. The service was immediately made available in 37 out of the 50 states in the US, offering residents of these cities an avenue to earn passive income on the exchange.
Galaxy Digital (GLXY) and regulated custody specialist BitGo Trust collaborated on cryptocurrency staking in February. The Mike Novogratz-led firm will leverage BitGo’s clientele to expand its staking and validator services.
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