XRP Moves Into High Gear With Bitgo as Institutional DeFi Race Accelerates

Bitgo has expanded XRP-related DeFi access by adding custody support for Flare and Songbird. The move enables institutions to securely store assets connected to the XRP ecosystem, with staking support planned.

Bitgo Lights up Flare Support— XRP Institutions Get DeFi Infrastructure

Digital asset infrastructure and custodian provider Bitgo announced on June 12 the addition of support for Flare (FLR) and Songbird (SGB), two Ethereum Virtual Machine (EVM)-compatible networks designed to enable decentralized finance (DeFi) use cases for assets like XRP. The announcement comes amid rising institutional interest in XRP-enabled infrastructure: Nasdaq-listed energy company Vivopower recently committed $100 million in XRP to Flare’s ecosystem using its non-custodial FAssets protocol. This strategic move allows DeFi participation for XRP while preserving its native security properties, signaling a shift in corporate treasury management through decentralized tools.

Bitgo now offers custody and self-custody solutions for both FLR and SGB, including hot and cold wallet options, with staking and delegation support planned for release later this year. The company stated:

Flare’s architecture includes tools like the Flare Time Series Oracle and Data Connector, enabling secure access to price data and external information. Its FAssets system lets non-smart contract assets like XRP and bitcoin be utilized within DeFi without relinquishing custody.

Songbird functions as Flare’s canary network, providing a live testing ground for the same protocols. Hugo Philion, CEO of Flare, stated: “Partnering with a well-established, U.S.-based qualified custodian like Bitgo is a key milestone in Flare’s institutional journey.” The partnership between Bitgo and Flare, paired with Vivopower’s XRP deployment, reflects accelerating institutional demand for regulated, data-enabled blockchain infrastructure built around XRP and similar assets.