Binance Completes the Integration of Wrapped XRP (wXRP). Here’s Why This Is Important

[solodeji]

Binance, the largest crypto exchange by trading volume, has announced that it has completed the integration of Wrapped XRP and had opened deposits for wXRP on Ethereum (ERC).

In the report, users were urged to find their assigned XRP deposit addresses on the Ethereum Network (ERC20) within the Deposit Crypto page.

Why This New Integration Is Important

Back in October 2021, Wrapped in collaboration with Hong Kong-based crypto custodian Hex Trust, announced that Wrapped XRP (wXRP), a digital asset backed 1:1 by XRP, will make the cross-chain jump into Ethereum-based decentralized finance (DeFi) starting in December 2021.

According to Mason Borda, CEO of Tokensoft, the driving force behind Wrapped, the new connectivity for XRP holders will allow access to various DeFi applications, such as lending and borrowing, among others.

In an interview, Mason Borda noted:

“We do a lot of these wrapped tokens, but we just think this wrapped XRP asset is going to be huge. It’s a top ten digital asset and has one of the biggest communities in crypto.”

https://timestabloid.com/binance-completes-the-integration-of-wrapped-xrp-wxrp-heres-why-this-is-important/