Liquid Staked 'mXRP' Launches, Powered by Midas and Axelar: Tokenized Exposure to Onchain Yield for the XRP Ecosystem

‍Seoul, South Korea – September 22‍

Midas, in partnership with Interop Labs, has announced the launch of mXRP on Axelar, a first-of-its-kind tokenized exposure product offering meaningful, XRP-denominated yield strategies.

The announcement took place live on stage at XRP Seoul 2025, before an audience of more than 3,000 XRP holders.

“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 the world of DeFi for the first time, we are enabling compelling use cases, including tokenization and trading integrations. The mXRP token demonstrates the power of Axelar’s platform to deliver real-world applications, with security and configurability built in.”

The mXRP token is issued on the new XRPL EVM through audited smart contracts. Midas, an issuer of tokenized certificates, authorized for retail distribution in Europe, with more than $1B TVL, provides the structuring and infrastructure behind mXRP. The XRP asset is bridged into the protocol via Axelar, the Gateway to Onchain Finance and the first (and currently only) DeFi connector for the XRP Ledger. Axelar enables tokenization across over 80 blockchains, making it an ideal platform to broaden access to the mXRP product.

“Much of the XRP supply has been dormant for years; mXRP provides a transparent mechanism for users to access onchain strategies,” said Dennis Dinkelmeyer, co-founder and CEO of Midas. “With strong community demand and DeFi integrations, we believe mXRP can play a key role in unlocking new use cases for XRP.”

By minting mXRP, users deposit XRP collateral into a tokenized certificate structure that tracks the performance of underlying onchain and offchain yield strategies. These strategies, directed by third-party asset managers known as "risk curators," may include market-making, liquidity provisioning and similar approaches. At launch, Hyperithm is providing risk curation services for mXRP. The mXRP token is fully integrated within the XRPL EVM ecosystem and can be deployed across DeFi protocols to access additional opportunities, such as lending markets and native integrations.

Strategy performance is reflected in the value of the token via smart-contract logic. Targeted net return is currently estimated at up to 10% APY, based on historical strategy performance, net of fees, and may vary over time. Past performance is not indicative of future results.

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About Axelar

Axelar is the Gateway to Onchain Finance, a decentralized network and development platform securely connecting the world's blockchains and financial institutions, developed by Interop Labs and other contributors. Its configurable technology stack enables seamless tokenization, yield and trading products critical for the next wave of institutional-grade use cases.

Alongside partners including top-tier institutions such as Deutsche Bank, Mastercard and Kinexys by J.P. Morgan, Axelar is developing the next generation of financial infrastructure: from global stablecoins to tokenized funds, built with security, compliance and enterprise scale in mind.

Learn more: axelar.network.

About Midas

Midas is a tokenization platform building institutional-grade financial products for the open web. Its ERC-20 tokens are structured to track dedicated strategies with verifiable onchain performance, combining TradFi-grade standards with DeFi composability.

Midas is backed by leading investors like Framework Ventures, BlockTower Capital and GSR, and partners with regulated custodians to ensure strong compliance and risk controls.

Learn more: midas.app.

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Midas-issued tokens are not available to US & UK persons and entities, or those from sanctioned jurisdictions. This is not investment advice. Past performance is no indicator of future returns. Investors have no legal rights in the underlying assets, and their claims are subject to qualified subordination.

Read the Prospectus and legal terms carefully before any investment decision. Full Investment Disclaimer: https://docs.midas.app/resources/legal-documents/investment-disclaimer 

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Media Contact:

Sam Shillet, AVP Ditto PR

Sam@dittopr.co

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