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.
You may also like
The Dark Side of Altcoins
Why is it said that almost all altcoins will go to zero, with only a few exceptions?
On the night of the Federal Reserve rate cut, the real game is Trump’s “monetary power grab”
The article discusses the upcoming Federal Reserve interest rate cut decision and its impact on the market, with a focus on the Fed’s potential relaunch of liquidity injection programs. It also analyzes the Trump administration’s restructuring of the Federal Reserve’s powers and how these changes affect the crypto market, ETF capital flows, and institutional investor behavior. Summary generated by Mars AI. This summary was produced by the Mars AI model, and the accuracy and completeness of the generated content are still being iteratively updated.
When the Federal Reserve is politically hijacked, is the next bitcoin bull market coming?
The Federal Reserve announced a 25 basis point rate cut and the purchase of $40 billion in Treasury securities, resulting in an unusual market reaction as long-term Treasury yields rose. Investors are concerned about the loss of the Federal Reserve's independence, believing the rate cut is a result of political intervention. This situation has triggered doubts about the credit foundation of the US dollar, and crypto assets such as bitcoin and ethereum are being viewed as tools to hedge against sovereign credit risk. Summary generated by Mars AI. The accuracy and completeness of this summary are still in the process of iterative updates.
x402 V2 Released: As AI Agents Begin to Have "Credit Cards", Which Projects Will Be Revalued?
Still waters run deep, subtly reviving the narrative thread of 402.
Trending news
MoreCrypto prices
More
