Flare partners with MoreMarkets to launch simplified XRP yield product

Flare has announced a partnership with MoreMarkets to launch the 'XRP Earn Account', a new product designed to provide XRP holders with a secure and simplified method for earning on-chain yield.

The collaboration will integrate MoreMarkets’ yield-generation strategies onto the Flare network, aiming to create a streamlined experience for users looking to participate in decentralized finance (DeFi).

New 'XRP Earn Account' simplifies DeFi access

The 'XRP Earn Account' is designed to allow XRP holders to earn yield without needing to directly interact with multiple blockchains, bridges, or smart contracts.

Users will initiate the process from their own XRPL wallet through a feature on the MoreMarkets platform.

This feature facilitates a payment to Flare’s FAssets system, which then mints a 1-to-1 representation of the asset, called FXRP, on the Flare network.

From there, the MoreMarkets platform automatically manages a series of DeFi strategies, such as lending or liquid staking the FXRP, to generate yield.

All rewards earned are automatically converted to XRP and paid out to the user's wallet.

A non-custodial approach to security

A key feature of the integration is its non-custodial design, ensuring users maintain control of their assets throughout the process. By utilizing the FAssets protocol, a user's native XRP remains on the XRPL.

The FXRP minted on Flare is secured by collateral and verified by Flare’s on-chain oracles, removing the need for centralized custodians.

The yield-generation process will also leverage protocols like Firelight, which is designed to unlock rewards for XRP holders through liquid staking.

Users will be able to deploy FXRP to receive a liquid staking token that can then be used across Flare’s DeFi ecosystem.

Architecture targets institutional demand

The new solution is also positioned to attract institutional investors seeking compliant and secure yield opportunities.

Flare's focus on regulatory alignment and its existing partnerships with institutional-grade custodians such as BitGo, Fireblocks, and Hex Trust provide a framework designed to meet professional standards.

The transparent and trust-minimized process of the FAssets system is intended to satisfy the high security requirements of institutional clients.

The collaboration aims to position Flare as a key utility layer for the growing XRPFi movement.

Hugo Philion, Co-founder & CEO of Flare, stated:

Altan Tutar, Co-founder and CEO of MoreMarkets, added:

The product rollout will begin with support for FXRP, with plans to expand access to additional lending markets on the Flare network in the future.