XRP Now on Solana & Ethereum: wXRP Launches

XRP Expands to Other Blockchains: Introducing wXRPIn a significant development, XRP is now accessible on major blockchain networks like Solana and Ethereum through a new wrapped version called wXRP. This one-to-one backed representation of XRP aims to broaden its use in decentralized finance (DeFi) and enable cross-blockchain functionality.Hex Trust, a digital asset custodian, is spearheading this initiative, managing the issuance and custody of wXRP. The wrapped asset, along with RLUSD, will be tradable on platforms like Solana, Optimism, and HyperEVM, with over one hundred million dollars in total value locked at launch.This structure allows users to employ XRP in various DeFi applications, such as swaps and collateral, without relying on unregulated third-party bridges. Authorized merchants can create and redeem wXRP in a regulated and automated environment, with the underlying XRP held securely in separate institutional custody accounts.RippleX, the company behind XRP, supports this move, aligning with the growing demand from institutions to use XRP and RLUSD across the crypto ecosystem. Despite the positive development, XRPs price didnt immediately surge, suggesting the market is still assessing the broader picture and other market trends. Currently, XRP is trading within a range, with strong buying interest around two dollars and consistent selling pressure above two dollars and five cents.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.