Hex Trust plans to issue and host wXRP, a token anchored 1:1 with XRP, with the aim of expanding the use of the asset in decentralized finance (DeFi) and cross-chain application scenarios.
As a regulated institutional custodian, the company said that this move will break the restriction that XRP can only be circulated in XRP Ledger; on public blockchains such as Ethereum that have listed Ripple stablecoin RLUSD, wXRP can form a trading pair with RLUSD to provide liquidity to the market.
In a statement to blockchain media outlet The Block, Hex Trust noted that authorized merchants can mint and redeem wXRP in a secure, automated, and fully compliant environment. The company emphasized that wXRP is fully tied to native XRP hosted by its compliance, enabling full redemption; while users can also access revenue opportunities through the partnered DeFi platform.
The total lock-up value (TVL) of wXRP at launch will exceed $100 million. According to Hex Trust, this size will provide a solid initial liquidity base for the token, ensuring smooth trading and price stability.
Hex Trust will issue and host wXRP to expand its DeFi applicability across multiple blockchains
2025-12-12 01:05:28
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