Hex Trust Brings XRP to Solana, Ethereum, and Other Blockchains via wXRP

XRP is set to expand beyond its native network after Hex Trust announced plans to issue and custody wrapped XRP (wXRP). This 1:1-backed representation of XRP will operate across major blockchains, including Ethereum and Solana.

The initiative introduces a pathway for one of the top five digital assets by market size to access cross-chain DeFi applications. It extends XRP’s utility beyond the XRP Ledger into broader on-chain financial activity.

According to the press release, each wXRP will be fully backed by native XRP held in segregated custody at Hex Trust. Minting and redemption will be available to authorized participants in a compliant environment.

wXRP will launch with more than $100 million in Total Value Locked. This will provide immediate liquidity and support stable market activity from day one. The wrapped asset uses LayerZero’s Omnichain Fungible Token standard, enabling multi-chain participation.

“With wXRP, we are expanding XRP liquidity in DeFi and cross-chain networks including broader utility between XRP and RLUSD. Users of wXRP and RLUSD will benefit from two assets that are built on trusted, compliant infrastructure, enabling broader DeFi utility for XRP and RLUSD across supported blockchains,” Giorgia Pellizzari, CPO and Head of Custody of Hex Trust, said.

wXRP extends XRP’s DeFi reach. It enables the asset to be usable on major blockchains, starting with Solana, Optimism, Ethereum, and HyperEVM. Hex Trust revealed that additional networks will follow.

BREAKING: XRP is coming to Solana