TLDR
- Hex Trust launched wXRP on Solana in partnership with LayerZero.
- Each wXRP is backed 1:1 by XRP held in segregated custody.
- Hex Trust plans over $100 million in initial liquidity for the launch.
- wXRP will expand from Solana to Optimism, Ethereum, HyperEVM, and more.
- XRP traded near $1.99, down 1.71% in seven days and 11.57% in 30 days.
Hex Trust has unveiled wrapped XRP on Solana to power seamless institutional DeFi. The launch lets XRP move beyond the XRP Ledger and into Solana-based finance apps. It also uses LayerZero to support future cross-chain access.
Hex Trust brings XRP into Solana DeFi
Hex Trust launched wXRP with LayerZero. Each wXRP equals one XRP held in segregated custody. Solana is the first network, and more chains are planned.
The token gives XRP holders access to swaps, liquidity pools, and reward programs on Solana. Those uses were harder from the XRP Ledger alone. The design also supports future XRP and RLUSD trading pairs.
Hex Trust said the product targets compliant on-chain activity. It will support minting and redemption through authorized merchants. That process keeps issuance under control.
Custody model keeps 1:1 backing in place
Hex Trust said every wXRP is fully backed by native XRP in custody. The firm will use segregated accounts and a burn process for redemptions. This keeps supply aligned with reserves.
The company said the product includes auditability, insurance coverage, and anti-money laundering controls. Those measures aim to meet institutional standards. They also support regulated market access.
Giorgia Pellizzari said “users of wXRP and RLUSD will benefit from assets built on compliant infrastructure.” She is Hex Trust’s chief product officer and head of custody. She said the setup supports broader DeFi use across supported chains.
LayerZero expands cross-chain reach and liquidity plans
wXRP uses LayerZero’s Omnichain Fungible Token standard. That standard lets the token move across supported networks. It reduces reliance on unregulated bridge models.
Hex Trust said the launch will begin with more than $100 million in total value locked. It plans later deployment on Optimism, Ethereum, HyperEVM, and other networks. The initial liquidity is meant to support trading from the start.
Markus Infanger, senior vice president of RippleX, said “demand to use XRP across the broader crypto ecosystem continues to grow.” He linked the launch to RLUSD and cross-chain asset management. XRP traded near $1.99 at publication, after recent seven-day and 30-day declines. The launch follows XRPL v3.0.0, which added stability and more DeFi-related features.
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