[Hex Trust Plans to Issue and Custody Wrapped XRP 'wXRP' to Expand Multi-Chain DeFi Applications] According to The Block, Hex Trust plans to issue and custody a wrapped version of XRP—wXRP. wXRP is a token pegged to XRP at a 1:1 ratio, designed to expand the asset's use in DeFi and cross-chain applications. Hex Trust stated that this move will allow XRP to overcome the limitations of the XRP Ledger and, alongside Ripple's stablecoin RLUSD, which is already live on Ethereum and other chains, serve as a liquidity trading pair. Upon launch, the total value locked (TVL) of wXRP will exceed $100 million. Initially, wXRP will be available on blockchains including Solana, Optimism, Ethereum, and HyperEVM, with plans to integrate additional blockchains in the future. Hex Trust emphasized that each wXRP corresponds to one XRP stored in an independent custody account and will only be issued or burned when the underlying asset is deposited or redeemed. The company stated that its institutional-grade custody services include Know Your Customer (KYC)/Anti-Money Laundering (AML) compliance, insurance coverage, and full auditability.