Hex Trust Debuts wXRP on Solana, Extending XRP Utility Across Blockchains

Hex Trust, a digital asset firm, has announced the rollout of Wrapped XRP, known as wXRP, to expand XRP’s access to decentralized finance and cross-chain applications. The asset will first appear on Solana before moving to other supported networks.

The wrapped token follows a 1:1 backing model with native XRP held in Hex Trust’s regulated custody. This allows institutions and individuals to use XRP across multiple blockchains without leaving the compliant environment that holds the underlying asset.

BREAKING: XRP is coming to Solana 🔥 pic.twitter.com/LabnKkLs71

— Solana (@solana) December 12, 2025

How wXRP Works Across DeFi Systems

According to Hex Trust, wXRP will help users interact with DeFi services such as swaps, liquidity pools, and reward-based platforms. The token also connects with RLUSD on Ethereum and other chains, improving liquidity options between the two assets.

Authorized merchants will mint and redeem wXRP within a controlled process designed to maintain supply parity. A burn mechanism removes wrapped tokens when native XRP is redeemed, keeping the circulating supply aligned with reserves held by the custodian.

Hex Trust stressed that all XRP backing the wrapped token remains in institutional-grade custody with insurance, auditability, and AML safeguards. This setup aims to support broader institutional usage while maintaining compliance with existing regulatory requirements.

With these structural safeguards in place, the token will enter the market with over $100 million in total value locked, offering a strong base of liquidity for early activity. The digital asset firm noted that this level of collateral will enable the asset to fit into DeFi environments across multiple blockchains.

Cross-Chain Expansion and Market Activity

After launching on Solana, wXRP will expand to Optimism, Ethereum, HyperEVM, and other networks. This progression is designed to give users consistent access to cross-chain tools. This allows them to move value across ecosystems with fewer limitations.

The project integrates LayerZero’s Omnichain Fungible Token standard, enabling unified functionality across all supported blockchains. This setup allows wXRP to move between chains without separate versions of the asset.

Ripple CTO David Schwartz welcomed the development, saying that more environments for XRP will help strengthen its utility. He added that the XRPL will remain the core system supporting the broader XRP ecosystem.

While the development continues to draw attention, XRP gained more than 2% in the last 24 hours and is trading at $2.05. Solana’s price has risen more than 6% to trade near $140, recovering from a recent dip.