mXRP Vault Surpasses $22M as Investors Capitalize on Staking Rewards

Axelar and Midas’s mXRP vault has surpassed $22 million in deposits within days of launch. The influx of capital suggests that XRP investors are capitalizing greatly on its attractive yield opportunities.

mXRP Gains Momentum After Launch

The new liquid staking token, mXRP, has attracted over $22 million in investor capital within less than a week of its market launch. The token was developed by tokenization platform Midas in collaboration with Interop Labs and Axelar.

Issued on the XRPL EVM sidechain, the ERC-20 token represents XRP that has been bridged via Axelar and implemented into carefully chosen yield strategies. Unlike conventional staking models, the liquid staking token does not undergo rebasing or inflation of its supply.

Instead, it accrues value relative to XRP, allowing holders to benefit directly from performance gains. Axelar also celebrated the milestone in a recent X post. 

20 MILLION AMERICAN DOLLARS
and climbinghttps://t.co/Uve5XgkoVp pic.twitter.com/SGbRuAlxBf

— Axelar Network (@axelar) September 26, 2025

The mXRP vault launched on Monday in a new bid to boost XRP’s utility. According to Midas, the token was designed to offer “meaningful yield strategies,” with returns reaching up to 10%.

Holders deposit XRP, which is bridged into the XRPL EVM network. In exchange, they receive mXRP tokens that can be used across decentralized finance protocols. These tokens retain full composability, allowing them to be added to liquidity pools. They can also be used in lending markets or even staked in additional products for layered returns.

Behind the scenes, the collateral is managed by professional curators such as Hyperithm, an Asia-based digital asset firm that oversees risk. When investors redeem, the tokens are burned, and the equivalent value of XRP is returned to them.

Notably, the XRP price responded to the launch with slight increases, trading near $2.80.  As the staking rewards draw in more participants, analysts predict that the launch of this token may increase demand.

XRP Utility Expands With New Developments

The release of the liquid staking token follows several actions that have expanded the applications of XRP.  Flare Network announced its XRP-backed stablecoin through its Enosys Liquity V2 platform. This would particularly boost on-chain liquidity. 

Furthermore, Ripple partnered with Securitize to bring its Ripple USD (RLUSD) stablecoin to tokenized funds managed by BlackRock and VanEck. This would essentially give institutional investors new redemption options.

In addition, Bybit listed RLUSD for spot trading with pairs against Bitcoin, Ethereum, XRP, and other major assets. The move extends Ripple’s reach in the stablecoin market. These moves highlight the growing web of financial products tied to the token.

It is also worth mentioning that the structure provides two streams of earnings through the passive appreciation of the token, as strategies generate yield, while bringing additional returns from deploying mXRP within DeFi ecosystems.