Wrapped interchain wrapped asset data provider. According to the statement made by com, Wrapped XRP (wXRP) will be supported on the Ethereum blockchain from December.
Wrapped XRP will be backed 1:1 by XRP, the native cryptocurrency of the XRP Ledger (XRPL), and will be held in custody with the Hong Kong-based licensed digital asset manager, Hex Trust. Ripple CTO David Schwartz tweeted the previous day that users can use wXRP in their Ethereum wallets, DeFi and smart contracts.
https://twitter. com/JoelKatz/status/1455215049228754946
This was echoed by Monica Long, general manager of RippleX at Ripple, and Lang said:
Calvin Shen, head of sales and business development at Hex Trust, said:
According to Ripple’s Q3 2021 XRP Markets Report, Ripple has seen “unprecedented” growth in its on-demand liquidity (ODL), which facilitates cross-border payments by using XRP as a bridge between the two currencies. Ripple reported that ODL transactions increased by 130% quarter-on-quarter and transaction volume on RippleNet has more than doubled since 2020.
Excluding acquisitions, total XRP sales by Ripple in Q3 2021 were $491.74 million, compared to $157.92 million in Q2. Ripple said that all XRP sales in the third quarter are attributed to the growth and adoption of ODL.