Hex Trust will issue and custody wXRP to expand its DeFi applicability across multiple blockchains

Jinse Finance reported that Hex Trust plans to issue and custody wXRP, a token pegged 1:1 to XRP, aiming to expand the asset’s use 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 only circulating within the XRP Ledger; on public chains such as Ethereum, where Ripple’s stablecoin RLUSD has already launched, wXRP can be paired with RLUSD to provide liquidity to the market. 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 backed by native XRP held in its compliant custody, supporting full redemption; at the same time, users can also access yield opportunities through partnered DeFi platforms. The total value locked (TVL) of wXRP at launch will exceed 100 millions USD. Hex Trust stated that this scale will provide a solid initial liquidity foundation for the token, ensuring smooth trading and price stability.