- Crypto.com’s XRP yield feature via Flare expands DeFi opportunities globally.
- Dubai partners with Crypto.com, making XRP a regulated government asset.
- Flare’s integration boosts XRP’s utility beyond payments, enabling passive income.
According to King Karan, a well-known cryptocurrency enthusiast and investor, Crypto.com has introduced significant developments for XRP holders. The platform now allows users to generate yield on their XRP holdings through Flare Networks, opening up new opportunities for those invested in the token.
This combination brings XRP to the realm of decentralized finance (DeFi) while preserving its original purpose of making cheap and fast international payments. Flare networks act as a liaison to introduce smart contract capabilities to an asset that would not intrinsically have them, like XRP.
Flare’s compatibility with the Ethereum Virtual Machine (EVM) enables XRP holders to unlock new capabilities without altering the underlying blockchain. Previously, XRP could only be used in cross-border payments, but with this upgrade, it will now be able to interact with the decentralized applications (DApps) and be involved in the larger DeFi ecosystem.
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XRP Restaking for Passive Income Generation
One of the most significant features of this integration is the ability for XRP holders to restake their assets. Restaking allows users to secure additional protocols using staked assets, generating extra returns.
This will allow XRP holders to engage in yield-generating strategies on the Flare ecosystem and remain exposed to XRP itself. The possibility of generating yield on XRP brings another dimension of flexibility, as the holders can enjoy the advantages of passive income without having to leave the initial blockchain system.
The integration of such a feature via Crypto.com increases its potential impact. As a worldwide exchange, Crypto.com grants this possibility to millions of users, reducing the entry barrier to zero for anyone who wants to join the on-chain yield program.
XRP Emerges as a Regulated Asset Leading Government Crypto Payments
In addition to Crypto.com’s new integration, XRP is making waves in the regulatory space, particularly in Dubai. The city has collaborated with Crypto.com to enable people to pay for government services using cryptocurrencies, with XRP being the first regulated crypto asset.
This collaboration, validated at the Dubai FinTech Summit, will enable users to pay for government services using the supported blockchain wallets. The payment will be immediately exchanged into Emirati dirhams to align with financial regulations.
The move makes XRP a significant participant in Dubai’s Cashless Strategy, which targets 90 percent of digital transactions by 2026. Dubai’s regulated nature makes XRP a leading asset in the region in its quest to have crypto payments supported by the government.
As Ripple is licensed by the Dubai Financial Services Authority, XRP’s power is increasing in one of the world’s biggest trade centers. The partnership between Crypto.com and Flare, along with XRP’s growing regulatory approval, shows that the token’s role is evolving beyond payments, opening up new possibilities in DeFi and government-backed crypto systems.
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