FXRP has reached its first anniversary on Flare after becoming the first asset launched through the network’s FAssets system on Sept. 24, 2025. Its initial 5 million minting limit was filled in roughly four hours. Flare says about 145.2 million FXRP has since been minted, with 130 million deployed in decentralized finance. FXRP represents XRP on Flare as an ERC-20 token through an overcollateralized FAssets system, while the underlying XRP remains on the XRP Ledger. The network verifies an XRP Ledger payment before minting the corresponding FXRP for smart-contract applications. Use cases have expanded across lending, liquidity, staking, yield, cover and vault strategies on Flare, Ethereum, Base and other networks. The MXRPY vault allocates deposits across options, arbitrage and onchain strategies, while Firelight’s first phase allows users to deposit FXRP and receive stXRP, with DeFi cover planned for a later phase. An Ethereum lending market lets users supply FXRP as collateral to borrow RLUSD. Flare Smart Accounts now combine FXRP minting and supported vault deposits into a single XRP Ledger signature, with borrowing access planned for the same wallet-based flow.