Hex Trust has officially launched Wrapped XRP (wXRP) on Solana this week, opening a new route for XRP holders to access one of crypto’s most active DeFi ecosystems without selling their native XRP holdings. The move allows XRP to be used across trading, lending, liquidity provision, and collateral-based applications on Solana.
1:1 backing with onchain reserves
The launch was confirmed by Solana’s official X account. wXRP is issued and custodied by Hex Trust, a regulated digital asset custodian, while LayerZero provides the cross-chain infrastructure through its OFT standard. Under the model, authorized users deposit native XRP with Hex Trust and receive an equivalent amount of wXRP on the destination chain. They can later burn wXRP to redeem the original XRP held in custody.
According to the report, wXRP is fully collateralized on a 1:1 basis, and Hex Trust publishes onchain proof of reserves. Current data shows roughly 50.83 million XRP backing the same amount of wXRP across supported networks. On Solana alone, around 834,498 wXRP are already in circulation. At XRP prices between $1.44 and $1.50, that represents about $1.2 million in supply on the network.
Solana DeFi integrations already underway
The listing gives XRP holders a practical way to deploy capital inside Solana-based DeFi. Several major Solana applications already support the token, including Phantom, Jupiter Exchange, Meteora, Titan Exchange, and byreal_io. Hex Trust had first outlined its multi-chain wrapped XRP strategy in December 2025, naming Solana, Ethereum, Optimism, and HyperEVM as target networks. At the time, the company said the initial rollout could bring in more than $100 million in liquidity.
Users have been advised to verify the official token address before interacting with wXRP on Solana, as fake wrapped assets remain a common risk in multi-chain markets. Hex Trust has also published the full Solana contract address on its website.
New utility for XRP, but with third-party risk layers
Around the launch window, XRP reportedly gained about 2% to 5%, while trading in the $1.44 to $1.50 range. The broader significance of the rollout lies in expanding XRP’s utility beyond its native chain and giving Solana another major asset that could contribute to DeFi activity and total value locked.
Still, wXRP introduces two external dependencies that users need to understand: custody through Hex Trust and bridging through LayerZero. That means wXRP is designed for DeFi use cases rather than replacing native XRP in XRP Ledger settlement. Hex Trust also noted that minting is restricted to participants that pass KYC and AML checks, making the product more compliance-focused than many earlier wrapped-asset structures.
With Solana now live, further deployments on EVM-compatible chains are expected to continue gradually. The report also noted that Ripple’s stablecoin RLUSD could eventually be paired with wXRP on Solana, potentially enabling additional trading pairs and liquidity pool configurations as integrations mature.