XRP has long been one of crypto’s most widely held assets, but it’s also been one of the most frustrating to put to work. While Ethereum and Solana holders have had a buffet of DeFi options for years, XRP largely sat in wallets collecting dust. Flare Networks is changing that equation, and the numbers suggest holders are paying attention.
The Flare Smart Accounts (FSA) v1.3 update, launched on July 28, 2026, lets XRP holders mint FXRP, a 1:1 representation of their XRP on the Flare network, and deposit it directly into yield-generating vaults. The kicker: it requires just a single signature from an existing XRPL wallet. No complex bridging protocols, no setting up a separate EVM wallet.
The numbers tell the story
FXRP deployed in DeFi has grown from 82 million to 144 million since February 2026. That’s roughly 75% growth in about five months.
Beyond the FXRP figures, more than 40 million XRP is currently earning yield through integrated wallets like Xaman and D’CENT.
