mXRP, Powered by Axelar, Breaks Launch Record

mXRP, the yield bearing liquid staking token issued by Midas and powered by Axelar, is officially the fastest growing Midas product in the first two weeks following launch, onchain research from the Axelar Knowledge Center revealed. Deposits to the mXRP vault reached nearly $30 million by October 6th, 2025, data from the smart contract show.

The mXRP launch outpaced the previous fastest growing Midas products, including mAPOLLO, mEDGE, mHYPER and mMEV.

The rapid adoption of mXRP is proof that demand for XRP yield is strong and continues to grow, with additional mXRP DeFi integrations expected to further stimulate demand.

The Next Phase of Growth

Growth across other Midas-issued tokens has often been catalyzed by looping, where a liquid staking token is redeployed in DeFi protocols to amplify returns through lending, liquidity provision or collateralized strategies. That dynamic has yet to materialize at scale for mXRP, meaning current yields are driving existing record breaking demand. Additional DeFi integrations will give mXRP holders more ways to deploy mXRP to earn yield, further increasing demand and deposits to the mXRP vault.

The mXRP portfolio is managed using delta-neutral strategies designed to generate XRP-denominated yield without directional exposure to XRP price volatility. These include arbitrage and basis-trading strategies that exploit funding differentials across exchanges or between spot and perpetual markets. The goal is stable, risk-adjusted yield denominated in XRP, effectively turning XRP liquidity into a yield-bearing instrument with minimal volatility exposure.

Issued by Midas under an EU-approved prospectus, mXRP is a liquid staked token that delivers real yield on XRP deposits. Users bridge XRP to XRPL EVM, mint mXRP instantly, and yield (or losses) accrue via institutional trading and lending strategies.

Midas and Axelar Bring Yield and DeFi Access to Institutional XRP Holders

Axelar provides the connection enabling Midas products on the XRP Ledger and XRPL EVM ecosystems, serving as the Gateway to Onchain Finance for mXRP and unlocking pathways to more than 80 connected blockchains. As an industry leader in onchain integration, Axelar will continue to bring new yield, tokenization and trading opportunities to institutional investors as global finance accelerates adoption of blockchain technology. Want to build with Axelar? Submit this form to get in touch with our team.

‍The above is not financial advice. Do your own research before investing in mxRP. mXRP is an asset issued by Midas Software GmbH, and is not offered to those located in the US, UK or other restricted jurisdictions. For a further understanding of mXRP, including associated risks, please visit https://midas.app/mxrp.

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