Hex Trust has announced plans to launch and custody Wrapped XRP (wXRP), a 1:1-backed representation of the native XRP token. This move is set to significantly expand XRP's utility beyond the XRP Ledger by allowing it to operate on major blockchains, including Ethereum and Solana.
How wXRP Works
- Full Backing and Custody: Each wXRP token will be fully backed by native XRP held in segregated, compliant custody by Hex Trust.
- Minting and Redemption: Only authorized participants will be able to mint and redeem wXRP within a regulated environment.
- Cross-Chain Capability: wXRP will utilize LayerZero’s Omnichain Fungible Token standard to enable participation across multiple chains.
- Initial Liquidity: The wrapped asset is set to launch with over $100 million in Total Value Locked (TVL) to ensure immediate liquidity and market stability.
Expanding DeFi Access
This initiative creates a crucial pathway for XRP, one of the top five digital assets, to integrate into the cross-chain Decentralized Finance (DeFi) ecosystem.
- Initial Blockchains: wXRP will initially be usable on Solana, Optimism, Ethereum, and HyperEVM, with plans to integrate additional networks later.
- Utility: The wrapped token allows users and institutions to engage in regulated cross-chain activities like swaps and liquidity provision.
- Reduced Risk: Because wXRP is fully backed and redeemable for native XRP, it allows users to move assets between blockchains without relying on unregulated third-party bridges, thereby reducing counterparty risk.
Giorgia Pellizzari, CPO and Head of Custody at Hex Trust, stated that wXRP will expand XRP's liquidity and utility across DeFi and cross-chain networks, including its integration with RLUSD, providing compliant infrastructure for broader use.
Markus Infanger, SVP of RippleX, confirmed the growing institutional and ecosystem demand to utilize XRP across broader crypto platforms, noting that wXRP addresses this need and aligns with Ripple's work on regulated assets like RLUSD.
December 2025, Cryptontieuae