Hex Trust, a custodian of digital assets, said it has expanded its partnership with the Flare blockchain to give institutional clients a route to $XRP $XRP$1.3640-focused decentralized finance (DeFi), while at the same time allowing them to maintain control over their assets.
The hook-up positions Hex as a front door for funds and companies that want exposure to Flare-based strategies but have avoided them due to operational and compliance constraints. It allows customers to mint and redeem FXRP, a packaged version of FXRP $XRP for the Flare network, in addition to staking the native FLR token.
Staking and token wrapping typically require direct wallet connections and signing transactions from hot wallets, a setup that many institutions are unwilling to use for core treasury assets. Hex says it solves this gap by holding assets in escrow while allowing customers to interact with Flare through controlled approvals and standardized workflows.
FXRP is Flare’s one-to-one representation of $XRPwhich is designed for renting $XRP holders use the token in smart contract applications without moving the underlying assets directly to a smart contract chain.
For years, $XRP has had fewer DeFi options than tokens built on smart contract networks. Flare has tried to change that by building tools that make that possible $XRP can be used in onchain apps while preserving the original $XRP on the $XRP General ledger.
Earlier this week, Flare introduced credit markets for FXRP that allow users to earn returns or borrow against wrapped currency $XRP without selling. The movement was aimed at turning $XRPthat does not have native smart contract capabilities, into usable collateral for onchain credit and trading.
The mechanisms are important because institutional demand is often less dependent on returns and more on the process. Hex said coin and redemption flows will run through its policy engine, allowing checks on multiple approvals for treasury moves rather than a single trader clicking through a wallet prompt.
Flare has said that the FAssets system, which underpins FXRP, is designed with audits and monitoring to reduce the risks that have plagued previous packaging models. Hex added that it plans to support additional assets on Flare over time, including bitcoin BTC$71,091.27as the network expands its tokenization and collateral toolkit.