Hex Trust will issue and host wXRP to expand its DeFi applicability across multiple blockchains.
Hex Trust plans to issue and custody wXRP, a token pegged 1:1 to XRP, aimed at expanding the use of this asset in decentralized finance (DeFi) and cross-chain application scenarios.
As a regulated institutional custodian, the company stated that this move will break the limitation of XRP circulating only on the XRP Ledger; on public chains such as Ethereum, where Ripple stablecoin RLUSD has been launched, wXRP can form trading pairs with RLUSD to provide liquidity to the market.
In a statement released to blockchain media The Block, Hex Trust pointed out that authorized merchants can mint and redeem wXRP in a secure, automated, and fully compliant environment. The company emphasized that wXRP is fully pegged to the native XRP it compliantly holds in custody, supporting full redemption; at the same time, users can also obtain yield opportunities through partnered DeFi platforms.
The total value locked (TVL) at the launch of wXRP will exceed 100 million USD. Hex Trust said that this scale will provide a solid initial liquidity foundation for the token, ensuring smooth trading and price stability.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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