Cryptocurrency custody firm Hex Trust has taken a significant step in the world of crypto custody by announcing its integration with the XRP Ledger (XRPL). This collaboration aims to develop various features for users by providing access to the innovative XLS-20 token standard, XRP, and Ripple’s NFTs. The partnership not only strengthens Hex Trust’s support for the XRPL ecosystem but also opens new opportunities for users curious about and already exploring the decentralized finance (DeFi) world.
Hex Trust Integrates with XRPL
Hex Trust, a leading institution in the crypto custody world, recently announced its strategic integration with the respected decentralized Blockchain network XRPL. With this partnership, Hex Trust aims to enhance the user experience by leveraging the robust features of XRPL. Established in 2012, XRPL has become a driving force in tokenization, consensus, and liquidity. With transactions completed in as little as 3-5 seconds and extremely low transaction fees of $0.0002, XRPL has become synonymous with efficiency and scalability.
The integration brings numerous benefits for Hex Trust’s clients. The custody firm’s users will now be able to access XRP and Ripple’s NFTs seamlessly. Additionally, Hex Trust will expand the scope of its support for NFTs by utilizing the XLS-20 token standard, offering users the opportunity to engage with new forms of digital assets.
In particular, the Trust Line feature will offer users the ability to make partial payments and integrate raw transactions while accessing other NFTs, presenting new avenues for efficient and flexible financial interactions.
XRPL’s Proof of Association and Hex Trust’s Hex Safe
A groundbreaking feature of XRPL is the Proof of Association (PoA) consensus mechanism, which stands out for its ability to achieve rapid consensus on transactions every 3-5 seconds. Over 100 validators representing different assets contribute to this consensus, enhancing the network’s reliability and sustainability.
Hex Trust’s integration with XRPL, particularly through its core custody platform Hex Safe, positions the company as a leader in adopting the latest Blockchain solutions. This integration not only reinforces Hex Trust’s commitment to innovation but also increases its support for XRPL users.
It is important to note that this integration is not the first collaboration between Hex Trust and Ripple. The crypto custody firm is known for being an active partner in Ripple’s initiatives, contributing to technology upgrades, and participating in joint ventures across the crypto world. Notably, Hex Trust’s participation in the Hong Kong Monetary Authority‘s e-HKD Pilot Program reflects its determination to advance the adoption of tokenized assets.