Hex Trust has officially launched 1:1 backed wrapped XRP, or wXRP, on Solana, giving XRP holders a way to access one of crypto’s most active DeFi ecosystems without selling their native XRP. The launch opens the door for XRP to be used in Solana-based trading, lending, liquidity provision, and collateral applications through a regulated custody and cross-chain structure.
wXRP Goes Live on Solana
The rollout was confirmed by Solana’s official X account. The asset is issued and custodied by regulated digital asset custodian Hex Trust, while LayerZero provides the cross-chain framework through its OFT standard. Hex Trust first outlined the plan on December 12, 2025, saying wXRP would be deployed across Solana, Ethereum, Optimism, and HyperEVM, with an initial launch expected to bring in more than $100 million in liquidity.
wXRP is structured as a fully collateralized 1:1 asset. When an authorized participant deposits native XRP with Hex Trust, the custodian mints an equal amount of wXRP on the destination chain. Users can also burn wXRP to redeem the underlying XRP held in custody. Hex Trust publishes onchain proof of reserves, and current figures show roughly 50.83 million XRP backing the same amount of wrapped supply across supported networks.
Early Solana Circulation and Ecosystem Support
On Solana, about 834,498 wXRP are already in circulation. Based on the article’s referenced XRP price range of $1.44 to $1.50, that equals roughly $1.2 million in Solana-side supply. This gives XRP holders an initial foothold in Solana DeFi while keeping exposure to XRP intact.
Support has already been added by several Solana applications, including Phantom, Jupiter, Meteora, Titan Exchange, and byreal_io. As integrations expand, wXRP could gain broader use in trading pairs, liquidity pools, and collateral strategies. The report also noted that Ripple’s RLUSD stablecoin may eventually become a pairing asset for wXRP on Solana, potentially enabling additional market and pool configurations.
Compliance Structure and Risk Considerations
wXRP is designed for DeFi usage and is not a substitute for native XRP in XRP Ledger settlement. The structure also introduces two layers of third-party risk that users need to understand: custody depends on Hex Trust, and cross-chain movement depends on LayerZero. Hex Trust acts as a qualified institutional custodian, and minting is limited to participants that pass KYC/AML verification, making the product more compliance-focused than earlier wrapped asset models.
Around the launch, XRP reportedly rose about 2% to 5%, holding within the $1.44 to $1.50 range. More broadly, the move reflects a wider crypto trend in which major token ecosystems seek liquidity and yield opportunities beyond their native chains. For Solana, wXRP adds another recognizable asset to its DeFi stack. For XRP holders, it creates a more regulated path to put dormant holdings to work across another network.