Flare Networks released the Flare Smart Accounts (FSA) v1.3 update on July 28, 2026. This feature allows XRP holders to mint FXRP, a 1:1 token representation, and deposit it into yield-generating vaults using a single signature from an existing XRPL wallet, bypassing the need for bridging or separate EVM wallets.
The volume of FXRP deployed in decentralized finance grew from 82 million to 144 million between February 2026 and July 2026, representing a 75% increase. Additionally, over 40 million XRP is currently generating yield through integrated wallet providers such as Xaman and D’CENT.
The ecosystem now includes diverse vault options. Monarq manages a multi-strategy vault targeting 3–4% APY. Meanwhile, Clearstar has deployed more than 33 million FXRP across various liquidity and lending protocols. These offerings expand on the infrastructure established by the earnXRP vault, which launched in December 2025.
FXRP functions as part of the FAssets system, enabling the use of non-smart-contract tokens on the Flare network. Each token maintains 1:1 backing by XRP collateral held on the XRP Ledger, ensuring users retain custody of their underlying assets while smart contracts manage the technical operations.
