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Hex Trust Launches Wrapped XRP (wXRP) Issuance and Custody Services
Source: CryptoNewsNet Original Title: A Hong Kong-based company has made a highly anticipated move regarding Ripple (XRP)! It also concerns Ethereum and Solana! Original Link: Digital asset service provider Hex Trust has launched Wrapped XRP (wXRP) issuance and custody services. The wXRP token is pegged to XRP at a 1:1 ratio, backed by native XRP assets, and is designed to support DeFi activities and cross-chain use cases.
The wrapped token can be bought and sold with RLUSD on multiple supported blockchain networks, including Ethereum, Solana, Optimism, and HyperEVM. Authorized resellers will be able to mint and redeem wXRP in a “secure, automated, and fully compliant environment.”
According to Hex Trust, wXRP will remain fully redeemable with held native XRP, and users will have access to yield opportunities through supported DeFi platforms. The launch includes over $100 million in locked value, providing strong initial liquidity for smoother transactions and more reliable pricing.
“With wXRP, we are expanding XRP liquidity in DeFi and cross-chain networks, including the broader use case between XRP and RLUSD,” said Giorgia Pellizzari, Product Director and Head of Custody at Hex Trust.
RippleX’s senior vice president Markus Infanger added: “There is a growing demand for the use of XRP across the cryptocurrency ecosystem and institutions. That’s why we’re excited that Hex Trust is meeting this demand.”