Hex Trust Brings XRP to Solana, Ethereum, and Other Blockchains via wXRP

Hex Trust announced plans to issue and custody wrapped XRP (wXRP), a 1:1-backed representation of native XRP, allowing the asset to operate across major blockchains like Ethereum and Solana. This initiative aims to expand XRP's utility into cross-chain DeFi applications. Each wXRP will be fully backed by native XRP held in segregated custody at Hex Trust, with minting and redemption available to authorized participants in a compliant environment. The launch is expected to have over $100 million in Total Value Locked (TVL) and utilizes LayerZero's Omnichain Fungible Token standard for multi-chain participation. Giorgia Pellizzari of Hex Trust noted this expands XRP liquidity in DeFi, while Markus Infanger of RippleX highlighted its fit with RLUSD for regulated DeFi access. Despite the development, the announcement had a muted impact on XRP's price.

(Source：BeInCrypto)