mXRP is a new yield-bearing liquid staking token for XRP that lets holders bridge XRP to XRPL EVM and earn on‑chain, delta‑neutral yield; it gathered nearly $30 million in deposits in its first two weeks, powered by Midas and Axelar’s cross‑chain network.
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Nearly $30M in deposits within two weeks
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mXRP mints via bridging XRP to XRPL EVM and uses delta‑neutral trading to deliver stable, XRP‑denominated yield
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Issued under an EU‑approved license and managed by Hyperithm; connected to 80+ chains via Axelar (Axelar Knowledge Center)
mXRP: new XRP yield token with nearly $30M in deposits, earn consistent on‑chain yield on XRP — read how to bridge and mint mXRP now.
The token lets XRP holders earn real on-chain yield using Axelar’s cross-chain network to connect the XRP Ledger with over 80 blockchains.
Published: October 13, 2025 · Updated: October 13, 2025 · By: COINOTAG
mXRP, a yield-bearing liquid staking token for XRP issued by Midas and powered by Axelar, recorded rapid inflows after launch. On-chain data shared by the Axelar Knowledge Center shows mXRP collected nearly $30 million in deposits within the first two weeks, making it the fastest‑growing product in the Midas suite.
🚀 $mXRP just broke a launch record.
It’s now the fastest‑growing @MidasRWA product ever, with nearly $30M in deposits in the first two weeks after launch, showing the real, rising demand for $XRP yield.
It’s just the beginning 🧵 👇
pic.twitter.com/UsqhmJOqPP
— Axelar Network (@axelar) October 13, 2025
The token was created to help XRP holders earn yield from their coins. It was issued under an EU‑approved license and is managed by Hyperithm, a trading firm known for systematic strategies. Axelar Network described the cross‑chain connection as “key, opening access to yield and liquidity for XRP holders of all sizes across the crypto ecosystem.”
What is mXRP and how does it work?
mXRP is a liquid staking‑style token that mints when users bridge XRP to the XRPL EVM and deposit into the Midas vault. The token provides an on‑chain, XRP‑denominated yield generated by delta‑neutral trading strategies, allowing holders to earn without direct exposure to XRP price movements.
How does mXRP generate yield and remain delta‑neutral?
mXRP’s yield model relies on delta‑neutral trading strategies that seek to profit from market inefficiencies rather than directional price moves. These strategies typically combine spot holdings with hedges — for example, using arbitrage, funding‑rate capture and exchange spread differentials — to earn steady returns denominated in XRP. On‑chain metrics reported by Axelar indicate that deposit growth outpaced previous Midas launches such as mAPOLLO, mEDGE, mHYPER and mMEV, underscoring user demand for non‑directional yield products.
Which networks and wallets are involved?
Axelar’s cross‑chain network connects the XRP Ledger and XRPL EVM to over 80 blockchains, enabling users to move tokens and access DeFi applications that provide liquidity or yield. Users bridge XRP to the XRPL EVM and mint mXRP instantly through the Midas interface. Official details and technical documentation are available from Axelar Network and Midas (referenced as plain text sources).
Frequently Asked Questions
Is mXRP available worldwide and who can participate?
mXRP is not available in restricted jurisdictions. According to Midas, the product is unavailable to users in the United States and the United Kingdom. Prospective users should verify regional availability on the official Midas platform (Midas statements referenced as plain text).
How soon can I mint mXRP after bridging XRP?
Users who bridge XRP to the XRPL EVM can typically mint mXRP instantly via the Midas vault interface. The minting process is designed to be near‑instant, subject to blockchain finality and network conditions.
Key Takeaways
- Rapid adoption: Nearly $30M in deposits in the first two weeks indicates strong demand for XRP yield products.
- Delta‑neutral yield: mXRP uses trading strategies that aim to deliver consistent XRP‑denominated returns independent of XRP price moves.
- Cross‑chain reach: Axelar connects XRPL EVM to 80+ blockchains, expanding liquidity and DeFi access for XRP holders.
Conclusion
mXRP represents a notable step for on‑chain finance by converting XRP into a yield‑earning liquid asset through cross‑chain infrastructure and delta‑neutral strategies. With nearly $30 million in early deposits and management under an EU‑approved framework by Hyperithm, the product highlights growing demand for disciplined, income‑oriented crypto products. For further technical and compliance details, consult Axelar Network and Midas as primary information sources (plain text references). COINOTAG will continue monitoring on‑chain metrics and official releases for updates.
TAGGED: XRP
