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’s FAssets, across chains.
According to a press release sent to CryptoPotato, both the FAssets system and LayerZero’s Omnichain Fungible token standard enabled the launch of the XRP spot market. The spot market is the first of its kind on Hyperliquid.
Flare Unveils XRP Spot Market on Hyperliquid
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’s mission to expand the XRP’s role as a programmable, multichain coin. The move also reinforces the XRP Ledger as a core settlement layer.
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 and LayerZero’s Omnichain Fungible token standard, XRP can move across chains as FXRP, trade on Hyperliquid’s orderbook, and return to its home on the XRP Ledger.
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.
Flare’s DeFi analyst, Dhruv Shah, said: “FXRP brings a new asset class into Hyperliquid’s 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.”
An Institutional-grade Spot Market
Flare believes Hyperliquid’s 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. Both XRP and Flare users now have access to an institutional-grade spot trading ecosystem on Hyperliquid.
“This listing brings XRP into one of the most liquid and performant on-chain trading environments available today. By combining Flare’s FAssets infrastructure with Hyperliquid’s orderbook, we are expanding what XRP can do across DeFi while preserving XRPL as the canonical settlement layer,” said Flare’s Co-Founder Hugo Philion.
The post Flare Launches Spot XRP Market on Hyperliquid, Allowing FXRP to Move Across Chains appeared first on CryptoPotato.
