How mXRP Unlocks Yield for Institutional XRP Holders

The launch of mXRP marks a pivotal moment for institutions and other firms seeking new sources of onchain yield for large holdings in XRP. 

By combining the security of the XRP Ledger and the flexibility of the XRPL EVM, mXRP sets the onchain benchmark for actively managed XRP yield strategies available to custodians, asset managers, treasuries and exchanges that hold millions of dormant XRP today.

What Is mXRP?

As a liquid, yield-bearing token, mXRP can activate more than $170 billion in idle XRP, ushering in a new era of capital efficiency and DeFi composability. Announced at XRP Seoul 2025, mXRP lets XRP holders earn onchain yield with up to 10% APY,* while retaining liquidity for professional custody or other onchain applications.

Issued by Midas under an EU-approved prospectus, the mXRP token generates yield through active management of XRP deposits by Hyperithm. This approach is employed by other protocols like Ethena (an onchain protocol with total AUM of more than $16 billion), where crypto deposits are deployed in delta-neutral strategies, ranging from market-making to arbitrage and liquidity provision, designed to deliver sustainable returns.

Built on the recently launched XRPL EVM, mXRP takes advantage of the proven reliability and security of the XRP Ledger while being easily integrated into hundreds of other onchain protocols. The XRP Ledger provides lightning fast settlement with very low fees for global value transfer between financial institutions, offering an ideal platform for issuing stablecoins and onchain real-world assets (RWAs). Axelar provides secure transfers between the XRP Ledger, the XRPL EVM and more than 80 additional blockchains, facilitating financial activity wherever it occurs onchain.

Institutional Use Cases for mXRP

For institutional market participants, mXRP unlocks new onchain opportunities:

• Custodians: Institutions providing custody of XRP on behalf of clients can now offer yield through mXRP, while securely holding mXRP within their existing custody infrastructure.
• Asset Managers: mXRP provides a new source of diversification. By holding a liquid, yield-bearing version of XRP, managers can enhance portfolio returns beyond asset appreciation and tap into additional DeFi strategies across more than 80 chains connected by Axelar, increasing capital efficiency.
• Exchanges & Trading Platforms: Centralized and decentralized exchanges can offer customers a native, XRP-denominated yield product.

How mXRP Generates Secure, Transparent Yield

This new opportunity to earn onchain yield on XRP is generated through professionally managed investment strategies within an institutional-grade onchain technology stack:

To generate yield, XRP is deposited in Midas in exchange for mXRP. Asset managers like Hyperithm deploy deposited XRP into delta neutral yield strategies including onchain and offchain market-making, arbitrage, and liquidity provision within DeFi protocols. Target net returns are currently estimated at up to 10% APY* (*variable) and are reflected in the mXRP-XRP redemption rate: mXRP can be redeemed at any time for native XRP (including any accrued yield).

As it remains liquid and composable with DeFi, mXRP can be returned to secure custody, deployed as collateral in onchain applications on the XRPL EVM blockchain, or securely transferred to other DeFi ecosystems across more than 80 blockchains connected by Axelar. This transferability supports additional yield-generating or collateralized borrowing opportunities, sometimes known as "looping" strategies.

Bridging Traditional and Onchain Finance with mXRP

For XRP custodians, mXRP ushers in a new era of onchain finance, allowing institutions to access new earning opportunities by transforming previously dormant XRP holdings into yield-bearing liquid assets.

By making it easier than ever to tap into idle XRP liquidity, mXRP unleashes more than $170 billion in value across hundreds of innovative DeFi protocols.

Axelar is the Gateway to Onchain Finance for institutional XRP holders, providing the technology that makes mXRP possible. Get started with mXRP on Midas, or complete this form get in touch with our team to learn more about institutional use cases for mXRP or launching your own tokenized yield products.

Midas-issued tokens are not available to US & UK persons and entities, or those from other restricted jurisdictions.While mXRP strategies are market neutral, no investment is without risk. Past performance is no indicator of future returns. The above is not investment advice; please do your own research prior to investing in mXRP. The above is provided for informational purposes only and any investment in mXRP is subject to terms and conditions entered into directly with Midas (the issuer) or other parties.

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

*Variable, denominated in XRP

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