Hex Trust, the leading institutional-grade digital asset custodian licensed across global financial hubs, has integrated with the XRP Ledger (XRPL), a decentralized blockchain network. Through this integration, Hex Trust’s core custody platform, Hex Safe, will now support the XRPL’s native digital asset, XRP, as well as NFTs through the XLS-20 token standard.
The XRPL is a decentralized Layer 1 blockchain that operates on an open-source platform led by a global community of developers. Known for its speed, energy efficiency, low transaction costs, and reliability, the XRPL has facilitated the settlement and liquidity of tokenized assets at a large scale.
“The XRPL offers developers a robust foundation for executing complex projects while maintaining its streamlined and efficient feature set,” said Giorgia Pellizzari, Head of Custody at Hex Trust. “Our existing partnership with Ripple opens new doors for our clients to innovate, grow, and lead in their respective domains.”
Since its establishment in June 2012, the XRPL has been a powerhouse in the world of tokenization, settlement, and liquidity. Its innovative Proof-of-Association Consensus Algorithm ensures that transactions are fast, secure, and environmentally sustainable, making it a preferred platform for payments, tokenization, gaming, asset custody, NFTs, and DeFi.
Hex Trust has an established relationship with Ripple, the leading provider of enterprise blockchain and crypto solutions, and a key contributing community member behind XRPL technology upgrades. This existing partnership includes several noteworthy projects, alongside joint private-public sector engagements across the digital asset industry. In November 2023, Hex Trust joined a consortium of partners to support Ripple and Fubon Bank in demonstrating the settlement of tokenized assets as part of the Hong Kong Monetary Authority’s e-HKD Pilot Programme.
Hex Trust’s comprehensive approach to digital asset services ensures that institutional clients have solutions and opportunities to actively engage in the DeFi ecosystem. This integration with the XRPL underscores its commitment to spearheading innovation in blockchain technology and digital asset management.
About Hex Trust
Established in 2018, Hex Trust is a fully licensed digital asset custodian dedicated to providing solutions for protocols, foundations, financial institutions, and the Web3 ecosystem. Get access to custody, DeFi, brokerage, and other services built on regulated infrastructure.
For more information, visit hextrust.com or follow Hex Trust on LinkedIn, Twitter, and Telegram.
About XRP Ledger
The XRP Ledger is a decentralized public blockchain built for business. The peer-to-peer network that manages the ledger is open to everyone. The XRP Ledger is maintained by software engineers, server operators, users, and businesses–a global community working to solve problems and create real-world value.
For more information, visit https://xrpl.org.