Ripple-linked XRP gets an institutional on-ramp into DeFi via FXRP
Hex Trust now offers institutional clients custodial access to mint, redeem FXRP, and stake FLR on the Flare network, enabling XRP DeFi participation.Summary
Digital asset custodian Hex Trust has expanded its partnership with the Flare blockchain to provide institutional clients with a compliant route into XRP-focused decentralized finance (DeFi). This integration allows clients to mint and redeem FXRP, which is Flare's one-to-one wrapped version of XRP, and stake the native FLR token, all while maintaining asset custody. This solves a major hurdle for institutions hesitant to use hot wallets for core treasury assets, as Hex Trust facilitates interaction with Flare through controlled approvals and standardized workflows via its policy engine. FXRP enables XRP holders to participate in smart-contract applications without moving the underlying XRP from the XRP Ledger. This development follows Flare's recent introduction of lending markets for FXRP, aiming to make XRP usable collateral, and Hex Trust plans to support other tokenized assets like Bitcoin on Flare in the future.
(Source：CoinDesk)