"Wrapped XRP, known as wXRP, is issued and custodied by Hex Trust, a regulated digital asset custodian. The token is fully collateralized at a 1:1 ratio."
"Cross-chain infrastructure is handled by Layerzero using its OFT bridging standard, allowing Solana DeFi access to over $100 million in initial XRP liquidity."
"Hex Trust publishes onchain proof of reserves, showing approximately 50.83 million XRP backing the same amount of wXRP across all supported chains."
Wrapped XRP (wXRP) has officially launched on the Solana blockchain, allowing XRP holders to participate in decentralized finance without liquidating their native tokens. The launch is backed 1:1 by Hex Trust, with approximately 834,498 wXRP currently in circulation. LayerZero's OFT standard facilitates cross-chain bridging, providing Solana DeFi with over $100 million in initial XRP liquidity. The token is fully collateralized, and users can redeem wXRP for native XRP at any time, with Hex Trust ensuring transparency through on-chain proof of reserves.
Read at news.bitcoin.com
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