PANews reported on December 12th that, according to The Block, Hex Trust plans to issue and custody a wrapped version of XRP—wXRP. wXRP is a token pegged 1:1 toPANews reported on December 12th that, according to The Block, Hex Trust plans to issue and custody a wrapped version of XRP—wXRP. wXRP is a token pegged 1:1 to

Hex Trust plans to issue and host a wrapped version of XRP, "wXRP," to expand the application of DeFi across multiple chains.

2025/12/12 09:15

PANews reported on December 12th that, according to The Block, Hex Trust plans to issue and custody a wrapped version of XRP—wXRP. wXRP is a token pegged 1:1 to XRP, designed to expand the asset's use in DeFi and cross-chain applications. Hex Trust stated that this move will allow XRP to break through the limitations of the XRP Ledger and trade as a liquidity pair with RLUSD on chains such as Ethereum, where Ripple's stablecoin RLUSD is already listed. At launch, wXRP's total value locked will exceed $100 million.

wXRP will initially be available on blockchains including Solana, Optimism, Ethereum, and HyperEVM, with plans to integrate other blockchains in the future. Hex Trust emphasizes that each wXRP corresponds to one XRP held in a separate custodian account and is only issued or destroyed when the underlying asset is deposited or redeemed. The company states that its institutional-grade custody services include Know Your Customer (KYC)/Anti-Money Laundering (AML) compliance, insurance coverage, and full auditability.

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Mono Protocol Raises $2M in Private Round and Opens Whitelist: Here’s How Its Unified Balances and Universal Accounts Will Reshape Web3

Mono Protocol Raises $2M in Private Round and Opens Whitelist: Here’s How Its Unified Balances and Universal Accounts Will Reshape Web3

The post Mono Protocol Raises $2M in Private Round and Opens Whitelist: Here’s How Its Unified Balances and Universal Accounts Will Reshape Web3 appeared on BitcoinEthereumNews.com. The way people use blockchain today often feels complicated. Balances are scattered across different networks, bridging takes time and money, and users constantly switch wallets and chains to complete simple actions. Mono Protocol is building a new foundation for Web3 that unifies these experiences. With unified balances, instant settlement, and universal accounts, it aims to make blockchain interactions feel seamless.  The project has raised $2M in a Private Round and is now running whitelist registration ahead of the presale. Mono Protocol: Solving Web3’s Biggest Problem With a Unified Design Today’s blockchain space struggles with fragmentation. Users maintain balances across several chains, bridges are slow and expensive, and front-running risks cause value loss. Developers face the added challenge of building infrastructure for multiple networks, making the experience complex on both sides. Mono Protocol addresses these issues with chain abstraction technology. By unifying per-token balances, it allows users to hold and use assets from any supported blockchain in one place. Transactions are protected with MEV-resistant routing, ensuring value is preserved during execution.  Liquidity Lock technology guarantees that transactions cannot fail, which is a major step forward compared to traditional cross-chain systems. This combination creates a new standard for blockchain interaction. Developers gain access to simple APIs to build cross-chain applications without handling infrastructure overhead, while users enjoy one-click transactions across multiple ecosystems. It marks a shift from fragmented networks to a cohesive Web3 environment where complexity is invisible. One Balance, One Account, One Experience Mono Protocol introduces unified balances, instant settlement, and universal accounts that work across blockchains. This approach makes transactions simpler, faster, and free of the friction users often face today. Instead of managing assets on multiple networks, users interact with a single account and one balance. Liquidity Locks ensure transactions are guaranteed and completed instantly, while universal accounts remove…
Share
BitcoinEthereumNews2025/09/19 20:13