The decentralized finance (DeFi) applications blockchain network Flare has launched a spot market for XRP on the on-chain trading platform Hyperliquid. This development aims to widen access to XRP liquidity while enabling the movement of FXRP, which is one of Flare\u2019s FAssets, across chains.<\/p>\n
According to a press release sent to CryptoPotato, both the FAssets system and LayerZero\u2019s Omnichain Fungible token standard enabled the launch of the XRP spot market. The spot market is the first of its kind on Hyperliquid.<\/p>\n
Alongside the creation of an XRP spot market, Hyperliquid has listed FXRP for spot trading under the FXRP\/USDC trading pair. The listing reflects Flare\u2019s mission to expand the XRP\u2019s role as a programmable, multichain coin. The move also reinforces the XRP Ledger as a core settlement layer.<\/p>\n
Hyperliquid has an orderbook model that is built to outperform automated market maker pools in price discovery and execution, especially under high-volume trading conditions. With the FAssets system<\/a> and LayerZero\u2019s Omnichain Fungible token standard, XRP can move across chains as FXRP, trade on Hyperliquid\u2019s orderbook, and return to its home on the XRP Ledger.<\/p>\n The streamlined on-chain flow will be enabled by an FXRP bridge powered by Flare Smart Accounts. The bridge will enable one-click withdrawals of FXRP from Hyperliquid back to the XRP Ledger as XRP. Hence, XRP can be traded on Hyperliquid as FXRP and bridged back to Flare to access DeFi use cases like lending and staking. Flare said this lifecycle will allow users to bridge and trade XRP without relinquishing custody at any point.<\/p>\n Flare\u2019s DeFi analyst, Dhruv Shah, said: \u201cFXRP brings a new asset class into Hyperliquid\u2019s ecosystem while remaining fully on-chain end-to-end. This integration gives traders direct access to XRP spot exposure using the same professional-grade tools they expect from a high-performance orderbook.\u201d<\/p>\n Flare believes Hyperliquid\u2019s orderbook design will make the FXRP spot market suitable for a range of strategies, including directional trading, hedging alongside perpetuals, and cross-venue exposure management<\/a>. Both XRP and Flare users now have access to an institutional-grade spot trading ecosystem on Hyperliquid.<\/p>\n \u201cThis listing brings XRP into one of the most liquid and performant on-chain trading environments available today. By combining Flare\u2019s FAssets infrastructure with Hyperliquid\u2019s orderbook, we are expanding what XRP can do across DeFi while preserving XRPL as the canonical settlement layer,\u201d said Flare\u2019s Co-Founder Hugo Philion.<\/p>\n The post Flare Launches Spot XRP Market on Hyperliquid, Allowing FXRP to Move Across Chains<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" The decentralized finance (DeFi) applications blockchain network Flare has launched a spot market for XRP on the on-chain trading platform Hyperliquid. This development aims to widen access to XRP liquidity while enabling the movement of FXRP, which is one of Flare\u2019s FAssets, across chains. According to a press release sent to CryptoPotato, both the FAssets […]<\/p>\n","protected":false},"author":0,"featured_media":125401,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-125400","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/125400"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125400"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/125400\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/125401"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125400"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125400"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125400"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}An Institutional-grade Spot Market<\/h2>\n