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A major shift is unfolding in the cryptosphere as wrapped XRP (wXRP) officially goes live on the Solana blockchain, enabling new cross-chain activity and decentralized finance (DeFi) opportunities.
According to a Friday announcement, XRP holders can now access Solana’s DeFi ecosystem via wrapped XRP (wXRP)—a 1:1 backed token that allows users to earn yield, trade, and lend without giving up their original position.
The Solana Foundation partnered with infrastructure providers LayerZero and Hex Trust to support the cross-chain expansion, connecting the XRP Ledger ecosystem with Solana and improving interoperability between the two networks.
wXRP is already live through Hex Trust custody and LayerZero’s cross-chain bridge. Support is rolling out across platforms including Phantom Wallet, Jupiter Exchange, Meteora, Titan Exchange, and Byreal.
The announcement also emphasized that the XRP Ledger is designed for fast, low-cost transactions, which it said helps XRP holders move into Solana’s broader DeFi environment.
wXRP is issued by depositing native XRP through Hex Trust’s authorized channels. Users receive wXRP on Solana, which can be used to participate in liquidity pools, lending protocols, and decentralized exchanges.
Each wXRP token is fully backed 1:1 by native XRP held in a segregated custody account, maintaining a direct and transparent peg. The supply is managed through a mint-and-burn mechanism: wXRP is minted upon deposit and burned when redeemed, allowing holders to convert back to the XRP Ledger at any time.
The announcement further stated that wXRP can be traded against Ripple’s RLUSD stablecoin on supported networks, expanding available trading pairs for position management.
In December, Hex Trust outlined plans to launch and custody wXRP as part of a broader effort to expand XRP’s role in DeFi and cross-chain use cases. At the time, the firm said wXRP would remain fully redeemable for native XRP held in regulated custody, while also providing access to yield opportunities across supported DeFi platforms.
Hex Trust previously indicated that wXRP would roll out across multiple networks, including Solana, Optimism, Ethereum, and HyperEVM.
XRP has a market capitalization above $91.7 billion. On Friday, it climbed more than 1.8% to trade at $1.49, according to CoinGecko.
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