Hex Trust announces a partnership with LayerZero to launch Wrapped XRP (wXRP), pioneering on the Solana network. This move marks a significant step forward for the XRP ecosystem in cross-chain DeFi, laying the foundation for cross-chain asset support, liquidity expansion, and more diverse decentralized application scenarios.
wXRP is a wrapped token supported 1:1 by native XRP, with custody handled by regulated Hex Trust. authorized merchants can mint and redeem wXRP within a compliant environment, maintaining a peg to the native XRP. In the initial launch phase, the total value locked (TVL) of wXRP will exceed $100 million, providing a solid liquidity base for DeFi trading and liquidity markets.
Functionally, wXRP will support cross-chain asset interoperability, enabling users to participate in swaps, liquidity provision, yield farming, and other DeFi activities across networks such as Solana, Ethereum, Optimism, HyperEVM, and more. Additionally, wXRP will create synergy with Ripple’s ongoing stablecoin RLUSD, further driving growth in multi-chain DeFi applications.
Hex Trust notes that both wXRP and RLUSD are built on regulated, auditable infrastructure, ensuring that institutional and individual users can securely access cross-chain asset management tools with AML protections, insurance, and transparent audits. The issuance of wXRP follows a burn-and-mint mechanism to ensure the supply is fully collateralized by the held native XRP.
Technically, wXRP adopts LayerZero’s OFT cross-chain standard, enabling seamless communication between multiple chains and allowing projects to leverage broader ecosystem liquidity and asset pathways. RippleX also stated that wXRP will become a key component of XRPL’s cross-chain expansion, complementing the recent XRPL v3.0.0 upgrade.
Following this announcement, XRP’s price increased by over 2% in the past 24 hours, reaching a high of $2.05, while Solana (SOL) rebounded over 6% from lows. Despite relatively low market trading volume, overall sentiment has turned more positive.
The launch of wXRP on Solana not only enhances XRP’s cross-chain capabilities but also provides a new liquidity gateway for the broader multi-chain DeFi ecosystem, potentially extending XRP’s application scope and value in the crypto market of 2025. (CoinGape)
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