Flare Network has announced the integration of Xaman wallet (formerly XUMM), a self-custody wallet built on the XRP Ledger. This integration enables XRP holders to mint FXRP — the tokenized version of XRP on Flare — directly from their Xaman wallets, eliminating the previous requirement to first transfer XRP to an EVM-compatible wallet like MetaMask before minting.
The move is part of Flare’s broader strategy to expand XRP utility within the decentralized finance (DeFi) ecosystem. FXRP serves as a synthetic representation of XRP on Flare, allowing users to participate in borrowing, lending, trading, and staking on Flare’s protocols while retaining exposure to the underlying XRP asset.
Simplified Minting Process
Previously, minting FXRP involved multiple steps: bridging XRP to the Flare network, setting up an EVM-compatible wallet, and executing smart contract interactions. This complexity created a barrier for many XRP holders. The Xaman integration streamlines the flow entirely within a single interface. Users simply authorize and sign transactions in Xaman, which then interacts directly with Flare’s smart contracts to mint FXRP — all while keeping assets under self-custody.
Flare leverages its data attestation protocol and State Connector to ensure accurate price feeds and secure cross-chain communication for minting and redemption of FXRP.
Strong Market Response
Since the integration went live, over $68 million worth of XRP has been deposited on Flare. Moreover, after Flare raised the minting cap to 15 million FXRP, users minted more than 8 million FXRP within just 3 hours — exceeding half of the new limit. This rapid uptake signals robust demand from the XRP community for DeFi access on Flare.
Token prices reflected mild gains: FLR rose 0.18%, FXRP added 0.58%, and XRP gained 0.73%, indicating a positive correlation in market sentiment following the news.
Broader DeFi Implications
Industry observers note that direct minting from a self-custodial XRP Ledger wallet significantly lowers entry barriers for XRP holders to participate in DeFi. Previously, XRP has been primarily used for payments and settlement; now, via FXRP, users can earn yields through liquidity mining or use it as collateral in lending protocols. Flare’s role as a blockchain interoperability layer is further cemented by this integration.
The Xaman wallet integration follows Flare’s recent partnerships with D'CENT hardware wallet and Monarq to launch the XRP Alliance and yield vaults, building a comprehensive XRP DeFi product suite. Analysts expect continued growth in FXRP minting volume, potentially hitting the maximum cap again soon as more users onboard.
As always, participants should conduct thorough research and assess risks before engaging in any DeFi activities.