Midas, in partnership with Interop Labs, has introduced mXRP on Axelar, the first tokenized exposure product delivering XRP-denominated yield strategies. The launch was unveiled live at XRP Seoul 2025 before more than 3,000 XRP holders.
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“Axelar is the Gateway to Onchain Finance,” said Georgios Vlachos, co-founder of Axelar protocol and director at Axelar Foundation. “By connecting the XRP Ledger to DeFi for the first time, we’re enabling powerful use cases like tokenization and trading integrations.”
Issued on the new XRPL EVM via audited smart contracts, mXRP leverages Midas’s expertise in tokenized certificates, with $1B+ TVL and authorization for retail distribution in Europe. XRP collateral is bridged into the protocol through Axelar, which connects more than 80 blockchains.
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Dennis Dinkelmeyer, co-founder and Chief Executive Officer of Midas, noted: “Much of the XRP supply has been dormant for years; mXRP provides a transparent way for users to access onchain strategies.”
With Hyperithm as the initial “risk curator,” mXRP strategies include market-making, liquidity provisioning, and more. Performance is tracked via smart-contract logic, with net returns currently projected at 6–8% APY (not guaranteed).
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Fully integrated with the XRPL EVM, mXRP can be used across a variety of DeFi protocols, giving users the flexibility to lend, trade, and explore new ways to earn opening up fresh opportunities for XRP holders.
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