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Hex Trust Partners with Flare Networks to Expand Institutional XRP DeFi Access

Hex Trust Partners with Flare Networks to Expand Institutional XRP DeFi Access

Hex Trust expands collaboration with Flare to let institutions access XRP-based DeFi, including FXRP minting, FLR staking, and on-chain lending, while retaining secure custodial control.

XRP
FLR

Fact Check
The evidence overwhelmingly and consistently supports the statement that Hex Trust and Flare Networks have a partnership. The most authoritative source, Hex Trust's own official press releases, directly confirms its role as an FTSO Data Provider for Flare, describing it as a 'deep operational partnership'. This primary evidence is strongly corroborated by multiple high-authority financial and crypto news outlets, including Yahoo Finance and CoinDesk, which detail the specific integrated services Hex Trust provides for the Flare ecosystem, such as custodial FXRP minting and FLR token staking. Further sources from major crypto platforms like Coinbase, MEXC, and Binance also report on this collaboration, with one explicitly calling it a 'Hex Trust and Flare Alliance' and describing a 'direct integration'. There are no contradictions across the provided sources. The consistency, high authority of the sources, and direct confirmation from one of the involved parties make the statement highly credible.
Summary

Hex Trust announced an expanded partnership with Flare to provide institutional clients custodial access to Flare’s XRP-based DeFi ecosystem. The integration allows institutions to mint and redeem FXRP, Flare’s wrapped XRP, and stake the native FLR token without using hot wallets. Clients interact with Flare via controlled approvals and multi-approval policy workflows, addressing compliance and operational hurdles. FXRP and the FAssets system enable XRP to be used as collateral for on-chain lending and trading, with plans to support additional assets like bitcoin. Flare recently launched lending markets for FXRP, allowing institutional yield generation and borrowing against wrapped XRP.

Terms & Concepts
  • DeFi (Decentralized Finance): A blockchain-based financial system offering services such as lending, trading, and staking without traditional intermediaries.
  • FXRP: A one-to-one representation of XRP on the Flare blockchain, enabling use of XRP in smart contract applications while keeping the original asset on the XRP Ledger.
  • FAssets: Flare’s system for creating tokenized representations of non-smart-contract assets, allowing them to be used in DeFi applications.