What to know : Hex Trust expanded its partnership with Flare to offer institutional clients custodial access to Flare’s XRP-focused DeFi ecosystem, including minting of FXRP tokens and redemption and native staking of FLR. The integration lets institutions keep assets under Hex’s custody while interacting with Flare through controlled approvals and multi-approval policy workflows, addressing operational and compliance concerns around hot wallets. Flare’s FXRP and FAssets system, now supported by Hex, aims to turn XRP into usable collateral for on-chain lending and trading with plans to add more assets, such as bitcoin, over time.
Hex Trust, a digital asset custodian, said it expanded its partnership with the Flare blockchain to give institutional clients a route into XRP -focused decentralized finance (DeFi) while allowing them to keep control of their assets.
The hook up positions Hex as a front door for funds and firms that want exposure to Flare-based strategies but have avoided them due to operational and compliance constraints. It allows clients to mint and redeem FXRP, a wrapped version of XRP for the Flare network, alongside staking of the native FLR token.
Staking and token wrapping typically require direct wallet connections and signing transactions from hot wallets, a setup many institutions are unwilling to run for core treasury assets. Hex says it solves that gap by keeping assets under custody while allowing clients to interact with Flare through controlled approvals and standardized workflows.
FXRP is Flare’s one-to-one representation of XRP, which is designed to let XRP holders use the token in smart-contract applications without moving the underlying asset onto a smart-contract chain directly.
For years, XRP has had fewer DeFi options than tokens built on smart-contract networks. Flare has been trying to change that by building tools that let XRP to be used in onchain apps while keeping the original XRP on the XRP Ledger.
Earlier this week, Flare introduced lending markets for FXRP that allow users to earn yield or borrow against wrapped XRP without selling. The move was aimed at turning XRP, which lacks native smart-contract capability, into usable collateral for onchain credit and trading.
The mechanics matter because institutional demand often hinges less on yield and more on process. Hex said minting and redemption flows will run through its policy engine, allowing multi-approval controls for treasury movements rather than a single trader clicking through a wallet prompt.
Flare has said its FAssets system, which underpins FXRP, was designed with audits and monitoring to reduce risks that have plagued earlier wrapping models. Hex added that it plans to support additional assets on Flare over time, including bitcoin , as the network expands its tokenization and collateral toolkit.
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