MoreMarkets Debuts Non-Custodial XRP Yield Account on Flare
MoreMarkets has partnered with the Flare network to launch a non-custodial XRP yield account. The service automates bridging from the XRP Ledger to Flare via the FAssets protocol. It mints FXRP tokens and deploys them across DeFi strategies including Firelight liquid staking and lending, generating on-chain yield returned as native XRP in weekly payouts. All FXRP is 1:1 collateralized and self-custodied. Users stake FXRP to receive a liquid staking token (LST) and Firelight Points for use in the Flare DeFi ecosystem. Early support covers Firelight Points, with plans to integrate additional Flare-based lending and vault services. The platform uses institutional-grade security from BitGo, Fireblocks and Hex Trust. This streamlined solution simplifies on-chain XRP yield and boosts network activity.
Bullish
This news is bullish for XRP price. The introduction of a non-custodial XRP yield account on the Flare network lowers barriers for holders to earn on-chain yield, potentially increasing demand and long-term token lock-up. FXRP minting and automated DeFi strategies encourage deeper engagement and asset retention, which can support price stability and upward pressure. In the short term, weekly payouts and security assurances may attract traders seeking yield, boosting trading volume and liquidity. Over the longer term, expanded integrations with Flare-based lending and vault services could further embed XRP in the DeFi ecosystem, enhancing network activity and fostering sustained price appreciation.