Hex Trust plans to issue and host a packaged version of XRP, "wXRP," to expand multi-chain DeFi applications.

According to PANews on December 12th, Odaily Odaily reports that 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 trading pair with RLUSD on chains such as Ethereum, where Ripple's stablecoin RLUSD is already listed. At launch, wXRP's total locked value will exceed $100 million. (The Block)