Flare CEO Says This One Product Can Put Billions of XRP To Work

The XRP community is buzzing with excitement as Flare CEO Hugo Philion hints at a breakthrough moment for XRP holders with the upcoming launch of Firelight. According to Philion, Firelight’s innovative product could deploy billions of XRP on the Flare network, unlocking decentralized finance opportunities for holders.

Flare CEO Unveils Game-Changing Product for XRP

In a recent post on X, Philion announced the upcoming on-chain activity involving XRP via Firelight. He noted that the product promises to put “billions” of XRP to work on the Flare network.

Firelight’s offering enables yield generation with XRP through an institutional-grade framework. Built on the Flare network, Firelight supports liquid staking for XRP holders, allowing them to earn yield.

Specifically, Firelight allows users to wrap XRP into FXRP, deposit it into a vault, and receive stXRP in return. This token is a tradable, yield-earning asset. It enables XRP holders to participate in DeFi without giving up control of their assets.

The product leverages Flare’s FAssets infrastructure, with Philion projecting that billions of tokens will eventually be staked. According to the Flare team, the yield generated on the platform will be reinvested into the XRP ecosystem.

Early this month, Flare Network received a $100 million XRP investment from VivoPower to pursue its DeFi offerings for the network. Meanwhile, the Uphold exchange has also launched a product on the Flare network to generate yield for its users.

Network Records Meteoric Growth

The XRP ecosystem has seen rapid growth in recent weeks, fueled by several strong fundamentals. Among the highlights is the Ripple-backed XRP ETF, which has reached $23 million in assets under management (AUM) in less than three days.

Moreover, the XRP Ledger network has launched its first decentralized governance platform, and approval odds for the XRP ETF have soared to 95%.

Meanwhile, investor attention is also focused on the Ripple-SEC lawsuit, as stakeholders await the court’s decision on a joint motion.

On the stablecoin front, Ripple is rapidly expanding its RLUSD supply, with market capitalization nearing $500 million. Over the weekend, Ripple minted 13 million RLUSD tokens, further increasing its footprint following the passage of the GENIUS Act.