What is Wrapped XRP (wXRP), and how does it work?
Learn what Wrapped XRP is and how to use wXRP on blockchains other than Ripple’s XRP Ledger. Wrapped XRP (wXRP) is a crypto asset pegged to XRP (XRP) and can be used on blockchains other than Ripple’s native XRP Ledger. Ripple is a blockchain-based global payments system providing crypto solutions for businesses, and XRP is the native currency of the Ripple network. Identical in value, its wrapped version, wXRP, can be used in financial payments and settlements on other blockchains. This article will discuss why we need wXRP, how to buy wXRP, use cases of wXRP, and the purpose and safety of wXRP tokens. What are wrapped cryptocurrencies? Wrapped Cryptocurrencies are tokens that are used as Cryptocurrencies on blockchains other than the original Blockchain they were built on. The value of wrapped crypto is the same as its original cryptocurrency (1:1). This allows Cryptocurrencies like Bitcoin (BTC), Ether (ETH) or XRP to be used on chains other than their native blockchains, thereby...