- mXRP allows XRP holders to earn up to 8% yield.
- New DeFi product integrates XRP with on-chain, off-chain strategies.
- mXRP transforms idle XRP into productive, yield-generating assets.
Former Fox Business journalist Eleanor Terrett has revealed a new opportunity for XRP holders to earn up to 8% yield on their holdings. In her latest update shared on X, Terrett discussed the launch of mXRP, a liquid-staking token that allows XRP users to generate passive income through a combination of on-chain and off-chain strategies.
Developed by Midas and Interop Labs, mXRP utilizes the XRP Ledger’s Ethereum Virtual Machine (EVM) through Axelar to offer holders the ability to deposit their XRP and mint mXRP tokens.
These tokens aim to provide an annual yield ranging from 6% to 8%, managed by third-party asset managers. While the exact yield results may vary depending on the underlying strategies, the product offers a new way for XRP to be used beyond its traditional applications.
Also Read: Ripple CEO Announces Marriage, Ignites XRP Community: Details
Expanding XRP’s DeFi Potential
The introduction of mXRP represents a significant step in integrating XRP into decentralized finance (DeFi) platforms. By allowing users to plug mXRP into existing DeFi ecosystems, it opens doors for earning yields through liquidity provision and market-making strategies.
This development transforms XRP holdings from a largely dormant asset into a productive one, providing holders with the chance to earn returns.
Georgios Vlachos, co-founder of Axelar, explained that the product connects the XRP Ledger to DeFi in a transparent manner, enabling new use cases like tokenization and trading integrations.
Currently, mXRP is available to users in Europe and Asia, but its potential for wider global access could provide broader opportunities for XRP holders to earn passive income.
As DeFi continues to grow in popularity, the launch of mXRP could help propel XRP into new financial realms, making it more competitive in the evolving blockchain and cryptocurrency space. With mXRP, XRP holders now have a new tool to unlock greater value from their assets, offering an easy way to diversify their portfolios and earn returns.
Also Read: Bitcoin Hits $113,000, Ethereum Surges, Solana & BNB Decline – Top Crypto Movements Today!
