What is FXRP?

FXRP is Flare’s FAsset representation of XRP: an ERC-20 token issued on the Flare network that represents native XRP on the XRP Ledger 1:1. It is minted through the FAssets protocol, Flare’s trust-minimized bridging system for assets that do not have native smart contract support of their own. The result is a token that carries XRP’s value onto a platform built for programmable finance.

You get FXRP without selling your XRP: you initiate bridging by sending a transaction on the XRP Ledger. Once an executor delivers a Flare Data Connector proof of that payment, FXRP is minted on Flare, less the minting fee. Redemption works in reverse: you burn FXRP on Flare, and an agent pays native XRP back to your XRP Ledger address.

FXRP behaves like any other ERC-20 token on Flare, so any wallet or dApp that supports ERC-20 assets can hold and interact with it. It can move between wallets, trade on decentralized exchanges, and act as collateral or a building block in yield strategies across Flare DeFi. Native XRP was not built with smart contract support, so none of that is possible while XRP stays on the XRP Ledger alone.

FXRP exists because XRP itself cannot interact with smart contracts, so it cannot be used directly in decentralized finance. The XRP Ledger was purpose built for fast, low cost payments and settlement, not for programmable contracts, and that design choice is a large part of why XRP has stayed outside DeFi. To bring that liquidity into DeFi, XRP needs a representation on a smart contract platform that stays 1:1 backed and redeemable rather than a wrapped asset controlled by a single party. FXRP is Flare’s answer: it lets XRP holders access lending, liquidity provision, and structured strategies in vaults while keeping a path back to native XRP.

The FAssets protocol was built specifically to bring non-smart-contract assets like XRP into DeFi at scale through a collateralized, rule-based architecture. Each mint executes only after the XRP Ledger payment is proven, and collateralized agents handle redemption.

FXRP is the bridge that connects the XRP Ledger to Flare and to XRPFi, the DeFi ecosystem where that connection becomes usable. The XRP Ledger settles and holds native XRP, but it does not support the smart contracts that DeFi strategies need, so XRP on its own has no path into lending markets, liquidity pools, or structured yield. Flare is the network that supplies that smart contract environment, along with the data protocols that let it verify events happening on other chains such as the XRP Ledger.

FXRP is what makes the connection work in practice: it represents XRP on Flare 1:1, so XRP’s liquidity can flow into the yield, lending, and trading strategies that make up XRPFi. XRPFi is the DeFi ecosystem at xrpfi.flare.network where that FXRP liquidity is put to work, rather than a separate network or a separate token. FXRP stays redeemable for native XRP under the protocol’s redemption rules, so using it within XRPFi puts your XRP to work without giving it up permanently.

FXRP can also move to other networks, including Base, HyperEVM, HyperCore and Monad, through the FXRP OFT route. That route handles cross-network transfers only. Minting and redemption happen on Flare.