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XRP trades around $1.99 as of writing, down 1.71% over the last seven days and 11.57% over the past 30 days. Despite recent price pressure, development activity around the asset continues to expand.
A new announcement from Hex Trust highlights how XRP’s utility now moves beyond its native ledger and into broader decentralized finance ecosystems.
Hex Trust Introduces Wrapped XRP on Solana
Hex Trust has announced the launch of wrapped XRP, known as wXRP, in partnership with cross-chain messaging protocol LayerZero. The wrapped asset represents native XRP on a 1:1 basis and will debut on Solana before expanding to other blockchains.
Source: X
This move allows XRP to participate directly in DeFi applications that operate outside the XRP Ledger. Why does this matter? It opens access to liquidity pools, swaps, and rewards systems that previously remained out of reach.
How wXRP Is Structured
Each unit of wXRP carries full backing from native XRP held in segregated custody with Hex Trust. Authorized merchants can mint and redeem the token in a controlled and compliant environment. This structure ensures that the circulating supply of wXRP always matches the XRP held in custody. A built-in burning mechanism supports parity by removing tokens when redemptions occur.
Hex Trust will maintain institutional-grade custody standards, including auditability, insurance coverage, and anti-money laundering protections. These safeguards aim to meet regulatory expectations while supporting on-chain activity across multiple networks.
LayerZero Powers Cross-Chain Access
The wrapped token uses LayerZero’s Omnichain Fungible Token standard. This framework enables wXRP to move seamlessly across supported blockchains without relying on unregulated bridges. As a result, users and institutions can interact with DeFi protocols across chains while maintaining consistent exposure to XRP.
Markus Infanger, SVP of RippleX, noted that demand to use XRP across the broader crypto ecosystem continues to grow. He explained that the integration fits with ongoing work around RLUSD, offering regulated access to DeFi while allowing users to manage XRP positions across chains.
Launch Liquidity and Network Expansion
Hex Trust plans to launch wXRP with more than $100 million in total value locked. This initial liquidity aims to support stable trading activity from the start. Solana will serve as the first deployment network, followed by Optimism, Ethereum, HyperEVM, and other blockchains. Each expansion will extend XRP’s reach into new liquidity venues and application layers.
The design also supports trading and liquidity pairing between XRP and RLUSD. This connection strengthens Ripple’s broader stablecoin and payments strategy while creating new options for DeFi participants.
DeFi Use Cases Come Into Focus
With wXRP, users can access swaps, liquidity provisioning, and rewards opportunities through supported DeFi platforms. Institutions can also engage with these activities under a regulated framework. The structure allows movement between chains without introducing third-party custodial risk. Does this change how XRP interacts with DeFi markets? It creates a direct and compliant pathway that did not exist before.
Giorgia Pellizzari, Chief Product Officer and Head of Custody at Hex Trust, said users of wXRP and RLUSD will benefit from assets built on compliant infrastructure. She emphasized that this approach enables broader DeFi utility across supported blockchains.
XRP Utility Expands Beyond XRPL
The wXRP launch follows Ripple’s recent XRPL v3.0.0 upgrade, which improved network stability and expanded DeFi-related features. Together, these developments reflect a broader effort to position XRP within cross-chain financial activity.
While XRP’s market price remains under pressure, infrastructure expansion continues to progress. How quickly markets respond remains to be seen, but XRP’s functional footprint now reaches far beyond its original network.
