$XRP goes beyond XRPL: wXRP will appear on Ethereum and Solana
The custodial service Hex Trust announced the launch of wrapped XRP (wXRP) at a 1:1 ratio, allowing the token to extend beyond the native XRP Ledger (XRPL) and fully enter the DeFi ecosystem.
🚀 Where will wXRP be available?
Wrapped XRP will appear across multiple networks:
Ethereum
Solana
Optimism
HyperEVM
Trading will be available in pairs with the stablecoin RLUSD from Ripple. In the future, Hex Trust plans to integrate other blockchains.
Full collateralization and regulatory compliance
Hex Trust emphasizes:
each unit of wXRP is fully backed by native XRP;
the underlying asset is held in a custodial storage;
wXRP can be exchanged back for XRP at any time;
the issuance and redemption of the token will occur in a secure and fully compliant environment.
Automated market makers (AMM) will be able to freely create and redeem wXRP, providing liquidity on DeFi platforms.
💰 DeFi opportunities and liquidity
Users will be able to:
use wXRP in DeFi protocols;
earn from farming and other tools;
to engage XRP outside of XRPL for the first time on such a scale.
👉 The initial TVL of wXRP is $100 million, which, according to Hex Trust, will create a solid foundation for:
stable pricing;
low slippage;
smooth trading.
> 'With the launch of wXRP, we are expanding the liquidity of XRP in DeFi ecosystems, enhancing the use of the token and the stablecoin RLUSD,' said
George Pellicciari, Chief Product Officer of Hex Trust.
❓ What is the strength of XRP today?
Discussions about the real value of XRP have been ongoing for years. Recently, Matthew Sigel, head of digital asset research at VanEck, stated that:
XRP allegedly does not generate financial benefits;
XRPL has no real application.
However, the market responds with actions:
📌 What is already happening:
Coinbase launched cbXRP on the Base network — the capitalization is already ~$39 million;
the RippleX team is discussing native XRP staking;
David Schwartz, CTO of Ripple, confirmed that the development of staking and smart contracts aims to enhance XRPL in DeFi;
The CEO of Teucrium previously suggested that Ripple could compete with SWIFT
The launch of wXRP is:
a real step towards integrating XRP into DeFi;
expanding the token's use cases;
growth in liquidity and interest from institutional investors.
XRP is gradually moving away from being a 'transactional token' and is starting to compete for a place in the multi-chain ecosystem.
