Hex Trust officially launched wXRP (Wrapped XRP) on Solana this week, allowing XRP holders to access Solana's DeFi ecosystem without selling their native tokens. The Solana account confirmed the rollout with a video and technical details. wXRP is issued and custodied by Hex Trust, using LayerZero's OFT standard for cross-chain bridging. Current on-chain data shows roughly 834,498 wXRP circulating on Solana, representing about $1.2 million in supply at XRP prices around $1.44–$1.50.
Full Collateralization and Compliance Gate
wXRP is fully collateralized at a 1:1 ratio. Authorized users deposit native XRP with Hex Trust, which mints an equivalent amount of wXRP on the target chain. Users can burn wXRP to redeem native XRP at any time. Hex Trust publishes onchain proof of reserves, currently showing approximately 50.83 million XRP backing all wXRP across supported chains. Minting is restricted to KYC/AML-verified participants, a design that distinguishes wXRP from earlier, less regulated wrapped asset products.
Solana Ecosystem Integrations and Multi-Chain Expansion
Major Solana applications already support wXRP, including Phantom wallet, Jupiter Exchange, Meteora, Titan Exchange, and byreal_io. Solana directed users to verify the official wXRP token address at tokens.xyz/xrp to avoid counterfeits. Hex Trust plans to expand wXRP to Ethereum, Optimism, HyperEVM, and other EVM-compatible chains. Ripple's RLUSD stablecoin was mentioned as a potential pairing asset on Solana, which could enable additional trading pairs and liquidity pools once integrations mature.
wXRP introduces two layers of third-party risk: custody depends on Hex Trust, and bridging depends on LayerZero. It is intended for DeFi use cases and not a substitute for native XRP on the XRP Ledger. XRP price rose roughly 2–5 percent around the launch, aligned with broader market moves.