Hex Trust is set to issue and manage a wrapped version of XRP, known as wXRP, to enhance the use of XRP in decentralized finance (DeFi) and cross-chain applications. The wXRP token will be pegged 1:1 to XRP, allowing it to function beyond the XRP Ledger and trade as a liquidity pair with Ripple's stablecoin RLUSD on platforms like Ethereum. At launch, wXRP will have a total value locked exceeding $100 million and will be available on blockchains such as Solana, Optimism, Ethereum, and HyperEVM. Hex Trust assures that each wXRP token corresponds to one XRP held in a separate custodian account, with issuance and destruction occurring only upon deposit or redemption of the underlying asset. The company highlights its institutional-grade custody services, which include KYC/AML compliance, insurance coverage, and full auditability, to ensure secure and compliant operations.