Institutional-grade infrastructure is broadening XRP's role beyond payments as Hex Trust, a licensed global digital asset custodian, announced the launch of wrapped XRP (wXRP) on December 12, 2025. The initiative targets DeFi expansion and cross-chain utility, bringing deep liquidity to new ecosystems.
Fully Backed and Regulated
wXRP is a 1:1 backed representation of native XRP, minted only when the equivalent amount of XRP is held in Hex Trust's regulated custody. All underlying XRP is kept in segregated custody with tightly controlled issuance and redemption, ensuring that the circulating supply always matches reserves. The launch comes with over $100 million in Total Value Locked (TVL), providing what the firm describes as a strong liquidity foundation from day one for smoother trading and reliable price discovery.
Multi-Chain Deployment and RLUSD Synergy
wXRP initially supports Solana, Optimism, Ethereum, and HyperEVM, with more blockchains planned. It will be tradable with RLUSD, Ripple's stablecoin, on Ethereum and other chains where RLUSD is available. Giorgia Pellizzari, CPO and Head of Custody at Hex Trust, stated: “With wXRP, we are expanding XRP liquidity in DeFi and cross-chain networks including broader utility between XRP and RLUSD. Users of wXRP and RLUSD will benefit from two assets built on trusted, compliant infrastructure, enabling broader DeFi utility across supported blockchains.”
Industry Endorsement
Ripple CTO David Schwartz commented on X: “More XRP ecosystems is a good thing. Letting XRP operate in more environments builds utility, and the XRPL remains the anchor that makes it all work.” Reece Merrick, Ripple's Senior Executive Officer and Managing Director for the Middle East and Africa, added: “Hex Trust just launched Wrapped XRP (wXRP) on LayerZero’s OFT Standard, starting with Solana to bring native XRP liquidity to DeFi across chains.”
The launch arrives amid growing institutional interest in XRP, with the 21Shares XRP ETF recently going live. Together, these developments signal that XRP is evolving from a payment token into a multi-chain DeFi asset underpinned by compliant custody and cross-chain interoperability.