Institutional custodian Hex Trust has announced the launch of a wrapped XRP token (wXRP) designed to bring the XRP token into decentralized finance (DeFi) and cross-chain ecosystems. The token — fully backed 1:1 by native XRP held in regulated custody — will debut with more than $100 million in total value locked (TVL) and will initially be available on major blockchains including Solana, Ethereum, Optimism, and HyperEVM.
What wXRP Means for XRP Holders and DeFi
Hex Trust’s wrapped XRP (wXRP) is a tokenized representation of XRP that makes the asset usable in DeFi protocols and liquidity environments where native XRP cannot operate natively. Each wXRP is backed 1:1 by XRP held in segregated, audited custody by Hex Trust, and is only issued when the corresponding amount of native XRP is deposited, and burned upon redemption.
This structure enables holders to:
- Move XRP into DeFi on Ethereum, Solana and other ecosystems, where liquidity, lending, swaps and yield strategies are more developed than on the XRP Ledger.
- Provide liquidity and access trading pairs with assets such as Ripple’s regulated stablecoin RLUSD.
- Participate in cross-chain activity without relying on unregulated third-party bridges, reducing counterparty risk and boosting institutional confidence.
Initial Liquidity and TVL
Hex Trust said the wrapped XRP launch will start with over $100 million in TVL, giving wXRP deep initial liquidity and enabling smoother markets from day one. The sizable locked value also supports reliable pricing and stronger trading capabilities across supported networks.
Multi-Chain Deployment and Use Cases
wXRP is set to launch initially across multiple chains: Solana, Ethereum, Optimism, and HyperEVM, with further integrations planned in the future. That multi-chain rollout aims to maximize XRP’s utility in fast-growing DeFi environments — from decentralized exchanges (DEXs) to automated market makers (AMMs) and liquidity protocols.
LayerZero’s Omnichain Fungible Token (OFT) standard is expected to underpin wXRP’s cross-chain interoperability, allowing holders to move value across networks seamlessly.
Compliance, Custody and Institutional Focus
Hex Trust emphasizes that wXRP’s issuance and redemption is conducted in a compliant, regulated framework. The underlying XRP is held in institutional-grade custody with Know Your Customer (KYC) and Anti-Money Laundering (AML) protections, insurance coverage, and audit trails — elements that appeal to institutional participants hesitant to use unregulated bridges or custodial services.
Authorized merchants will be able to mint or redeem wXRP in an automated and secure environment, supporting both institutional workflows and retail engagement.
Ecosystem Response and Broader Implications
The initiative has drawn positive responses within the XRP community and broader ecosystem. RippleX senior VP Markus Infanger said the move aligns with growing demand for regulated cross-chain access to XRP and complements efforts to expand DeFi participation.
Ripple’s CTO David Schwartz also publicly endorsed the wrapped XRP initiative, calling expanded XRP utility across chains a “good thing” that builds broader utility while the XRP Ledger remains the foundational anchor.
Market reaction has shown modest immediate price movement, with XRP trading slightly higher on news of the wXRP launch — though broader market factors continue to influence price action.
What to Watch Next
- Adoption in DeFi protocols: Whether major DEXs, lending platforms or yield aggregators integrate wXRP for liquidity and trading.
- Institutional flows: Uptake from market makers, OTC desks, and funds that may provide deeper liquidity for wXRP pairs.
- Cross-chain volumes: Usage across Solana, Ethereum, Optimism and HyperEVM as multi-chain activity scales up.
- Additional chain support: Expansion into other ecosystems that increase XRP’s reach across decentralized finance.
Bottom Line: Hex Trust’s wrapped XRP launch represents a significant step in extending XRP’s utility beyond the XRP Ledger into mainstream DeFi and cross-chain ecosystems. With strong initial TVL and regulated custodial backing, wXRP creates a compliant bridge for participations in swaps, liquidity pools, and yield protocols on multiple blockchains — potentially boosting adoption and liquidity in XRP-related markets.
