The post Crypto News: XRP Leads Axelar Interchain Transfers with Nearly $23.3M Volume appeared first on Coinpedia Fintech News

The crypto market remains volatile. Bitcoin trades near $109,400, and Ethereum sits around $3,950. XRP is making headlines as it moves beyond its traditional role as a payment token and enters the broader DeFi ecosystem.

Axelar’s Interchain Token Service (ITS) now connects XRP to more than 80 blockchains. This allows XRP to operate across multiple networks and increases its utility. In September 2025, $mXRP, a staked version of XRP, launched with a 10% yield. The introduction of $mXRP has driven significant interchain activity. On-chain data shows that transfers via Axelar’s ITS reached approximately $6.6 million within a few days of the launch.

Record Interchain Activity

In the second half of 2025, XRP led all tokens supported by Axelar in interchain transfers. It recorded 13,959 transactions, with a total transfer volume of nearly $23.3 million. This shows strong adoption and growing use of XRP beyond the XRP Ledger. The integration allows holders to earn yield and participate in DeFi opportunities without being directly affected by XRP’s price movements.

Reacting to the same, crypto lawyer Bill Morgan said, “Thanks for sharing. Haven’t seen this bullish data before.” 

Future Outlook

Georgios Vlachos, co-founder of Axelar, said the partnership allows new use cases, including tokenization and trading integrations. Midas, in collaboration with Interop Labs, created $mXRP as the first XRP-denominated yield product. The launch expands XRP’s functionality and strengthens Axelar’s role in the multi-chain ecosystem.

Analysts see this as a step forward for XRP. By combining staking rewards, interchain transfers, and access to over 80 blockchains, XRP can become a key player in the DeFi space. The partnership also benefits Axelar by increasing its visibility and presence across multiple networks.

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Filed under: Bitcoin - @ September 26, 2025 5:21 am