v4v is an exchange that provides an interface between HIVE/HBD and BTC LN. It is not a wrapping system and doesn't allow for ownership of BTC on Hive itself. What this will enable is the ability to actually hold wrapped BTC on Hive. In the addition it opens up the potential for DEXs that allow more direct means of exchange.
Regardless, v4v will play an important role in providing an exchange point for this wrapping system, but it is not the wrapping system itself.
Thanks for the clarification on that.