The statement says Flare can create XRP-linked assets from exchange balances, a structure it argues removes know-your-customer checks that other wrapped token models face.
Flare’s chief executive said the network can mint XRP-linked assets directly from cryptocurrency exchange holdings, describing the model as a way to reduce know-your-customer, or KYC (identity verification checks), friction seen in other wrapped token structures. The claim centers on wrapped assets, which are blockchain-based representations of another token used to move value across networks. According to the post, Flare argues its approach differs from conventional wrapping models that may require more direct onboarding steps for users.