Flare Labs CEO Hugo Philion has outlined a vision for the XRP Ledger (XRPL) to evolve beyond its current focus on payments and become a leading platform for tokenization. Philion emphasized that Flare's technology can enable XRP to engage in decentralized finance (DeFi) at an institutional level, enhancing XRPL's capabilities with privacy tools and secure computing features. The FXRP system, launched in September 2025, has already attracted over 97 million XRP tokens, with $40 million staked on Firelight. Philion aims to see 5 billion XRP represented as FXRP on Flare by mid-2026, which would constitute 8.2% of XRP's circulating supply. This expansion is supported by Flare's recent partnership with Hex Trust, providing institutional clients with secure custodial access to FXRP minting and redemption. Philion's comments highlight the mutually beneficial relationship between XRPL and Flare, with XRPL serving as the asset issuance layer and Flare providing the compute layer for smart contract features. This collaboration aims to position XRPL as a preeminent tokenization platform, leveraging Flare's technology to enhance its DeFi capabilities.