Wrapped XRP is launching on Ethereum
We’re excited to announce that wrapped.com, the leading provider of cross-chain, wrapped assets, will be officially supporting Wrapped XRP (wXRP) on the Ethereum blockchain this December. Thanks to a collaborative effort with Hex Trust, Asia’s leading digital asset custodian, and wrapped.com, users will soon be able to use Wrapped XRP (wXRP), a digital asset backed 1:1 by XRP, throughout Ethereum’s vast and well-developed defi ecosystem.
Wrapped XRP will be backed 1:1 with XRP, securely placed into custody with Hex Trust, the leading fully-licensed and insured provider of bank-grade custody for digital assets in Asia. Led by veteran banking technologists and award-winning financial services experts, Hex Trust has built Hex Safe™, a proprietary bank-grade platform that delivers custody and other value-add services to financial institutions, digital asset service providers, and private clients.
“The collaboration with Wrapped.com will benefit the wider XRP ecosystem as we provide the infrastructure to mobilize Wrapped XRP on the Ethereum blockchain. Wrapped tokens improve interoperability across DeFi protocols, create connections between otherwise isolated liquidity, and enable users to transact with a broader range of decentralized applications.”
— Calvin Shen, Head of Sales & Business Development at Hex Trust
More about XRP, the asset behind wXRP on Ethereum
XRP is a digital asset built for value movement. It is the native digital asset on the XRP Ledger — an open-source, permissionless and decentralized blockchain technology that can settle transactions in 3–5 seconds.
XRP can be sent directly without needing a central intermediary, making it a convenient instrument in bridging two different currencies quickly and efficiently.
Fast, low-cost and scalable, XRP and the XRP Ledger are used to power innovative technology across the payments space.
Wrapped XRP (wXRP), launching in December
Stay tuned over the next month for more updates on how to interact with wXRP on Ethereum, including where you can see it first.
More about wrapped.com
Wrapped.com lets investors use their digital assets to lend, borrow, and trade on all major DeFi platforms. Each wrapped asset is fully-collateralized and held with a qualified custodian.
Wrapped.com is a collaboration of Tokensoft Inc. with leading custodians and other financial institutions. Tokensoft provides the technology layer via Wrapped.com that allows users to wrap their XRP into wXRP.
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Past performance is no guarantee of future results. Be aware, the market for wXRP is different from XRP, and there may be times where the price of wXRP does not converge with XRP.
This material is for informational purposes only and is (i) not an offer or solicitation to invest in or buy or sell interests of shares or to otherwise participate in any investment or trading strategy, (ii) not intended to provide accounting information, legal advice, or tax advice or investment recommendations or (iii) not a statement of any kind from Wrapped as to the future performance of any digital asset, financial instrument, or other market or economic measure.
When wrapping or unwrapping, the transaction size is determined by calculating the size of the wrapping or unwrapping transaction when converted to USD as described in more detail at www.wrapped.com. The conversion to USD will occur in reference to the price of the underlying wrapped asset publicly available at www.cryptocompare.com (as primary source) or www.coingecko.com (as secondary source if price is unavailable from primary source) at the time a quote is received requesting the wrapping or unwrapping of the underlying asset.
The information is believed to be current as of the date indicated within these materials. Please consult your own advisers and perform your own due diligence before making any investment decision. Wrapped and/or related entities may have financial interests in or connected with some of the entities and/or publications discussed or mentioned in the material. Certain links provided in the materials are provided for your convenience and do not imply endorsement by Wrapped or related third-party sites or their content.