Flare Hits 145M FXRP Milestone as XRP Enters More DeFi Markets

TL;DR

• One year after its launch, Flare reports 145.2 million FXRP minted, with 130 million already deployed across DeFi protocols.
• 89.5% of the circulating supply is active in yield strategies, lending, and collateral positions, not passively held in wallets.
• Some 21 million FXRP migrated to other chains through LayerZero’s OFT standard, equivalent to 14.4% of total issued supply.

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One year after its launch, Flare reached a key milestone in the expansion of XRP into decentralized finance: 145.2 million FXRP minted, with approximately 130 million already deployed across various DeFi protocols.

The network published an official update marking the first anniversary of FXRP, detailing that the asset generated around 7.8 million transactions within the DeFi ecosystem since its debut on September 24, 2025.

The most relevant figure is not the total minting volume, but the utilization rate. With 89.5% of the supply active in yield strategies, lending markets, and collateral positions, FXRP has stopped behaving like a passive wrapped token and become a functional piece within onchain capital.

Demand was immediate from day one: the initial minting cap of 5 million FXRP set by Flare was filled in approximately four hours, and supply surpassed 90 million by the end of January 2026.

Flare: Programmable XRP

The technical design of FXRP preserves native XRP on the XRP Ledger while Flare verifies the underlying payment and mints the corresponding equivalent. The system operates with overcollateralization, without the original XRP permanently migrating to another chain. That mechanism allowed XRP holders to access the DeFi market without giving up the base asset.

The ecosystem incorporated additional layers throughout the year. FXRP holders can use XRP as collateral to take out loans in RLUSD, Ripple‘s stablecoin, through a lending market on Ethereum, enabling users to obtain dollar liquidity without selling their exposure to the asset. In August 2026, the integration with Derive extended that functionality to the options and perpetual futures market.

Flare also added vault strategies, liquid staking, and derivatives, while some 21 million FXRP moved to other chains through LayerZero‘s OFT standard. Current data from Flare Metrics places the supply at around 145 million, with close to 85% of the available minting capacity already utilized.