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Hex Trust launches the XRP DeFi gateway, allowing institutions to utilize FXRP under custody.
Odaily Planet Daily reports that digital asset custody provider Hex Trust has announced the launch of an XRP DeFi portal for institutional clients, while maintaining asset custody control. Institutions can mint and redeem FXRP (the XRP wrapped token on the Flare network) through the Hex platform and stake the native FLR. Previously, Flare launched an FXRP lending market, allowing users to earn yields or borrow without selling XRP. FXRP offers a one-to-one mapping with XRP, enabling participation in smart contract applications without transferring the original XRP. (coindesk)