mXRP, the tokenized XRP that generates profits through Midas issuance, is expanding to the BNB Chain via integration with the Lista DAO lending protocol. This allows XRP holders to access DeFi on the BNB Chain and earn additional yields on the fundamental strategy of mXRP.
Previously, mXRP was available on the XRP Ledger and the XRPL EVM sidechain. Now, the token can be used as collateral in the lending markets of Lista DAO, combining the base yield with the yield from liquidity pools and borrowing markets on the BNB Chain.
mXRP is issued according to the ERC-20 standard, representing ownership of the native XRP and yields from market-neutral strategies implemented by partners such as Hyperithm. Midas is currently issuing mXRP directly on the BNB Chain, with plans to support cross-chain functionality through Axelar in the future.
Currently, there are about 480,000 XRP holders on the BNB Chain, holding a total of approximately 800 million USD wrapped XRP. mXRP has a total locked value of about 25 million USD, which is expected to increase when reused on DeFi protocols such as Lista DAO.
Midas does not provide its tokens, including mXRP, to users in the US, UK, and other restricted areas. The total locked value of the tokenized products issued by Midas exceeds 1.2 billion USD.
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