Licensed, institutional-grade digital asset custodian Hex Trust 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 non-fungible tokens (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.
Since its establishment in June 2012, the XRPL, the custodian says, 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 decentralized finance.
Giorgia Pellizzari, Hex Trust’s head of custody, adds: “The XRPL offers developers a robust foundation for executing complex projects while maintaining its streamlined and efficient feature set.”