Incoming Product To Put Billions of Dollars of XRP to Work: Flare CEO

Flare Networks CEO and co-founder Hugo Philion has hinted at a major turning point for XRP and its holders. In a recent tweet, Philion stated the upcoming product, Firelight, could put billions of idle XRP liquidity to work on. This development would mark a pivotal moment for XRP holders, many of whom have long awaited the opportunity to earn yield through decentralized finance without relinquishing control of their assets. How Firelight Will Unlock Billions for XRP For the uninitiated, Firelight is a new liquid staking protocol launching on Flare. It enables users to wrap XRP into FXRP, deposit it into a secure vault, and mint a new asset called stXRP in return. FXRP, the wrapped version of XRP used in Firelight, is generated through Flare’s FAssets system. This protocol brings non-smart contract tokens like XRP, BTC, and DOGE onto the network for smart contract use. The resulting stXRP token represents staked XRP, and holders can freely trade, lend, or deploy across DeFi protocols. The underlying FXRP remains locked and actively earns rewards through Flare’s Secured Service Network. In essence, this system allows XRP holders to participate in yield generation without sacrificing liquidity. Institutions Already Onboard Interestingly, Firelight is already winning institutional backing. For instance, clean energy company VivoPower has committed $100 million worth of XRP to Firelight via the Flare network. Crypto exchange Uphold is also playing a key role as a launch partner. Specifically, it facilitates retail access to FXRP and supports the infrastructure for staking participation. Commentators view this early institutional adoption as the first wave of a broader movement. Even a small portion of XRP’s $120 billion market cap entering Firelight could significantly impact DeFi liquidity and XRP's utility. Why This Matters for XRP XRP has historically lacked native smart contract functionality, which has limited its role in the DeFi space and left over $100 billion untapped. Thanks to its unique interoperability features and staking products like Firelight, Flare is helping XRP gain a foothold in modern on-chain finance. Other crypto assets with similar technical limitations include Bitcoin and Dogecoin. Meanwhile, Bitcoin DeFi initiatives are also progressing, particularly with Cardano and other platforms. With widespread adoption, Firelight could dramatically increase XRP’s utility. As a result, Philion has suggested that Firelight could serve as a gateway for billions of dollars in XRP liquidity to enter the on-chain economy. Other prominent voices in the XRP community share this vision. Commenting on the post, attorney Bill Morgan remarked that XRP needs to "work harder," stressing that it does not serve an "imaginary store of value" purpose. https://twitter.com/Belisarius2020/status/1936907117660954892