PANews September 22 news, according to The Block, the tokenization platform Midas has partnered with Interop Labs, the developer of the Blockchain interoperability protocol Axelar, to jointly launch the XRP tokenization product mXRP. Currently, the product's set base yield is 6%-8%, paid in XRP. Users can deposit XRP as collateral into a tokenized structure that tracks the performance of the underlying yield strategy, thus minting mXRP. These strategies may include market making and providing liquidity, managed by third-party asset management institutions known as “risk managers.” Midas co-founder and CEO Dennis Dinkelmeyer revealed that Hyperithm acts as the manager of mXRP.
In addition to basic returns, mXRP can also be deployed in various DeFi protocols to earn additional yields. The mXRP Token is issued on the Ethereum Virtual Machine (EVM) sidechain of the XRP Ledger and runs on the infrastructure provided by Axelar. According to information from the Midas website, the tokens issued by Midas, including mXRP, are not available to users in the United States, the United Kingdom, or sanctioned regions, as access to these areas is restricted.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
XRP faces a harsh paradox in 2026 as XRPL explodes but the token has little value
XRP Ledger (XRPL) is gradually taking on the appearance of a backend financial infrastructure that traditional financial systems can integrate with without significant changes to operational structures.
This stems from the fact that tokenized funds can be stored directly on the ledger, while stablecoins can
TapChiBitcoin50m ago
XRP Future Four-Year Price Outlook: Standard Chartered Maintains $28 Target by 2030
Standard Chartered Bank is optimistic about the long-term price outlook for XRP, expecting it to decline to $2.80 by 2026 and reach $28 by 2030, despite short-term adjustments due to market downturns and uncertainties. This indicates that institutions remain confident in the adoption of XRP and the development of market infrastructure.
GateNews1h ago
The closure of the Strait of Hormuz can't stop Bitcoin's rebound! BTC, ETH, XRP prices rise across the board today
Despite the closure of the Strait of Hormuz and escalating conflicts between Iran and the United States, the cryptocurrency market has rebounded, with Bitcoin, Ethereum, and Ripple prices rising. Institutional capital flows and optimistic sentiment are driving increased demand, while regulatory expectations and investor risk appetite are recovering, making the market outlook optimistic.
GateNews1h ago
XRP Today News: Ripple Prime Connects to NSCC, XRPL May Welcome Institutional Funding Channels
Ripple makes new progress in advancing institutional infrastructure, with XRP becoming a market focus. Hidden Road has officially been listed in the NSCC directory, and Ripple Prime has gained attention, which may facilitate closer integration of XRPL with traditional finance. Although XRP's short-term trend is somewhat weak, institutional integration is seen as a long-term positive signal. If XRPL applications increase in the future, demand could rise.
GateNews2h ago
