Thursday, February 5th – Hex Trust, a leader in digital asset solutions, is expanding its partnership with Flare, a full-stack Layer 1 blockchain built for data-intensive use cases. The expansion of this lengthy partnership entails Hex Trust working with Flare to offer institutional access to native staking of Flare’s native token, FLR. Hex will also play a pivotal role by offering institutions the opportunity to mint Flare’s non-custodial 1:1 representation of XRP on the Flare blockchain, FXRP.
In essence, Hex Trust provides a standardized, secure gateway for institutions to handle Flare assets. The now-live features offered to Hex Trust’s institutional clients allow them to mint and redeem FXRP, as well as native FLR staking. Under the arrangement, Flare handles the protocol infrastructure itself, while Hex Trust meets institutional clients’ needs in the governance, compliance, and custody layer.
The partnership addresses a key challenge facing institutional investors: the security concerns associated with participating in on-chain markets. Assets like FLR and XRP have traditionally required hot wallet connections for staking and bridging, which conflicts with institutional risk-management protocols. Hex Trust is the solution to this, functioning as an access point for institutions to participate in Flare’s ecosystem via WalletConnect through a concrete chain of custody. This, in turn, eliminates the security concerns and allows FLR staking and XRP DeFi participation through FXRP mining to make their way into institutional strategies.
“The expansion of token wrapping to assets like XRP and BTC marks a significant shift in market structure, transforming static holdings into productive, liquid collateral for the digital economy. By providing an enterprise-grade gateway for FXRP minting, we are enabling institutional capital to directly enhance the liquidity and depth of the Flare ecosystem. This move bridges the gap between traditionally siloed assets and smart contract utility, allowing institutions to contribute to network security and decentralised money markets within a governed, high-standard framework.” Said CPO and Head of Custody at Hex Trust, Giorgia Pellizzari.
Meanwhile, the Co-Founder and CEO of Flare, Hugo Philion, stated: “Flare was built to expand the utility of digital assets, starting with XRP, which doesn’t possess native smart contract capabilities. Working with Hex Trust will empower institutions to put their assets to work without compromising on the security and compliance frameworks by which they’re bound. This will remove the friction that’s kept institutional capital on the sidelines, and serve as a catalyst for even greater on-chain activity across the Flare ecosystem.”
Flare’s unique FAssets system gives smart contract functionalities to non-smart contract assets like XRP. This lets them be used for DeFi, securely allowing for staking and lending with minimal trust. The FAsset system itself has undergone multiple external audits, with bug bounty programs and a robust design to enhance security. On top of this, Flare’s systems are under continuous monitoring and have in-built safeguards against insolvency.
The partnership extends to Hex’s transaction policy engine governing minting and redeeming actions on Flare. For Hex’s institutional clients, this means a multi-approval, customizable workflow enabling sophisticated treasury movements. When an asset moves into DeFi for liquidity provision or lending, Hex’s infrastructure ensures the underlying token remains in custody.
In the future, Hex Trust will extend its infrastructure support as Flare extends its support to more non-smart contract assets like Bitcoin, giving institutions a secure gateway to participate.
CCN Editorial delivers comprehensive coverage of cryptocurrencies, blockchain breakthroughs, decentralized finance, and emerging fintech trends. From Bitcoin and Ethereum to stablecoins, NFTs, and global market innovation, our team provides timely news, in-depth analysis, and expert commentary. In addition to market insights, CCN Editorial is dedicated to educating readers, offering accessible guides, explainers, and learning resources to help everyone, from beginners to professionals, navigate the rapidly evolving world of digital finance and the future of money.
