Flare Network has launched FXRP on its FAssets system, a 1:1 wrapped XRP token, now available on Hyperliquid with the trading pair FXRP/USDC. This is the first spot XRP trading pair on the platform. Previously, XRP was only available on Hyperliquid in the form of perpetual futures. Flare’s DeFi analyst Dhruv Shah pointed out that the lack of EVM-compatible XRP and non-custodial bridges were the main obstacles before. FXRP is built on LayerZero, supporting cross-chain transfers and redemption to the XRP Ledger, and a dedicated Flare smart account bridge is upcoming. This move supports Flare’s XRPFi vision, allowing FXRP to be used in DeFi applications after trading. Flare aims to make FXRP the standard XRP representation in DeFi, starting with Hyperliquid due to its order book model and the current absence of XRP spot trading pairs. Recent XRPFi projects include earnXRP and stXRP liquidity staking from Firelight Finance.
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