New Liquid Staking Token Lets XRP Holders Earn Up to 8%
mXRP is being marketed as the first DeFi product of its kind on the XRP Ledger
Welcome to the Monday edition of the Crypto In America newsletter!
What you’ll read: XRP holders can now earn yield on Axelar, along with the top crypto and macro trends to watch this week.
A big unlock for fans of the world’s third largest cryptocurrency: the launch of mXRP, a new liquid-staking token offering yield of up to 8% for XRP holders.
Unveiled Monday at XRPL Seoul 2025, mXRP is being marketed as the first DeFi product of its kind on the XRP Ledger. Built by tokenization platform Midas and Interop Labs on the XRPL EVM via Axelar, it lets users deposit XRP and mint a token that targets 6–8% APY, earning yield through a mix of onchain and offchain strategies managed by third-party asset managers. Axelar states yield results may vary based on underlying product strategy.
As of now, the product is only available to customers in Europe and Asia.
“Axelar is the Gateway to Onchain Finance,” said Georgios Vlachos, co-founder of the Axelar protocol and director at the 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.”
mXRP can be plugged into existing DeFi platforms, letting users earn yield through strategies like market making and liquidity provision. It’s designed to turn idle XRP into productive, yield-generating assets.
“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.”
As of this writing, XRP is trading around $2.80 with a market cap of $168 billion.
The financial rails of the future are being built on Avalanche. Just ask Citi, JP Morgan, Blackrock or Dinari.
Find out how Avalanche is accelerating global finance.
👀 What To Watch This Week
On market structure: Continued talks between Republicans and Democrats on process. As highlighted in Friday’s statement from Senate Dems, there’s bipartisan momentum to move quickly. However, signals from both sides suggest the process may take longer than Republicans had initially hoped, with the bill’s markup now likely pushed to October.
Monday
Coinbase launches Mag7 and Crypto Equity Index Futures, letting investors trade a single futures contract that mixes top U.S. tech stocks with crypto ETFs.
Fed Governor Stephen Miran holds speech on "Non-Monetary Forces and Appropriate Monetary Policy” at 12 PM.
Tuesday
Korea Blockchain Week kicks off in Seoul. Speakers include CFTC Acting Chair Caroline Pham, White House Crypto Council Executive Director Patrick Witt, Bitmine Chairman Tom Lee, Tether USAT CEO Bo Hines, and others.
Fed Vice Chair for Supervision Michelle Bowman makes a speech on economic outlook at 9 AM.
Fed Chair Jerome Powell also makes a speech on economic outlook at 12:35 PM.
Thursday
The Commerce Department publishes the latest Q2 GDP estimates at 8:30 AM.
Fed Vice Chair for Supervision Michelle Bowman makes a speech on supervision and regulation at 10 AM.
Fed Governor Michael Barr makes a speech on bank stress testing at 1 PM.
Coin Center is hosting its annual dinner, known in the industry as the “crypto prom,” this year at The Plaza Hotel in NYC.
Friday
Fed Vice Chair for Supervision Michelle Bowman makes a speech on "Approach to Monetary Policy Decision-Making” at 1PM.
Remember, new editions of the Crypto In America newsletter drop every Monday, Wednesday and Friday at 7AM EST.
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Hey, great breakdown on XRP’s potential in reshaping cross-border payments—those sub-5-second transfers are a game-changer for global finance! Your point on RippleNet’s growing network hits home. My post https://sleuthfox.substack.com/p/ripples-xrp-escrow-strategy digs into how Ripple’s ~35B XRP escrow (70-90% re-escrowed) has kept a lid on rallies like Q3 2025’s $3.67 high, but $1.3T Q2 ODL volume screams adoption post-SEC clarity. I’ve written a bunch on Ripple/XRP on Substack, covering ODL surges and regulatory wins. What’s your take on XRP’s next big catalyst? 🚀 If you enjoyed my analysis, please follow me on Substack!