wxrp

Solana's official post on the X platform states that Hex Trust and LayerZero_Core will bridge and issue wXRP, a token that supports Solana DeFi and can be exchanged on the XRP Ledger at a 1:1 ratio at any time.According to previous news from ChainCatcher, Hex Trust plans to issue and custody a wrapped version of XRP called "wXRP" to expand the application of DeFi across multiple chains.

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 break through the limitations of the XRP Ledger and trade as a liquidity trading pair alongside Ripple's stablecoin RLUSD on chains like Ethereum, where RLUSD has already launched. At the time of wXRP's launch, its total locked value will exceed $100 million. wXRP will initially be available on blockchains including Solana, Optimism, Ethereum, and HyperEVM, with plans to integrate additional blockchains in the future.Hex Trust emphasizes that each wXRP corresponds to one XRP held in a segregated 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 comprehensive auditability.

ChainCatcher news, according to Arkham monitoring, about 4 hours ago, Alameda Research transferred $5.24 million worth of WXRP to Binance Deposit, $900,000 worth of CPOOL to KuCoin Deposit, and $7.08 million worth of VBTC to Wintermute, suspected to be sold through OTC.