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Institutional custodian Hex Trust announced the launch of wrapped XRP (wXRP) on December 12, 2025. wXRP is a 1:1 backed token issued via LayerZero that brings Ripple’s XRP to Solana’s DeFi ecosystem, launching with over $100 million in initial total value locked to enable trading, lending, and cross-chain swaps, potentially bridging XRP’s $344.67 million market cap with Solana’s $8.9 billion TVL (up by 0.69% in the last 24 hours).
🚀 HUGE news for the #XRP ecosystem! @Hex_Trust is launching and securing Wrapped XRP (wXRP), a 1:1-backed representation of native XRP, issued on @LayerZero_Core OFT Standard, to unlock #DeFi utility across multiple blockchains, starting with @Solana.
Read more:…
— Hex Trust (@Hex_Trust) December 12, 2025
wXRP, redeemable 1:1 for native XRP on the XRP Ledger at any time, attempts to solve XRP’s historical DeFi isolation by allowing holders to use it as collateral in Solana protocols like Jupiter DEX and lending markets, while maintaining 24/7 redemption rights. The rollout extends to Ethereum, Optimism, and others, with Hex Trust handling custody and LayerZero powering interoperability.
Hex Trust CPO and Head of Custody Giorgia Pellizzari said: “With wXRP we’re bringing XRP liquidity into DeFi and cross-chain ecosystems while unlocking new use cases between XRP and Ripple’s stablecoin RLUSD.”
In a tweet reacting to the announcement, Ripple Chief Technology Officer David Schwartz, known online as @JoelKatz, endorsed the expansion of XRP’s reach beyond its native ledger, stating: “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.”
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. https://t.co/szCfaj3KcL
— David 'JoelKatz' Schwartz (@JoelKatz) December 12, 2025
Crypto commentator and XRPL advocate @mrcauliman posted a detailed thread on December 12, 2025, shutting down confusion around Hex Trust’s announcement of wrapped XRP (wXRP) on Solana. In the tweet, he stressed that the integration does not signal a partnership between Ripple and Solana or a migration of native XRP from its ledger. Instead, he opined, wXRP acts as a 1:1 IOU representation enabling DeFi access on Solana, such as lending and swaps, while the real XRP remains on the XRPL for instant, permissionless settlements without bridges or custodians. The post highlighted the liquidity demand driving such wrappers but warned of added risks like counterparty and bridge vulnerabilities inherent to non-native assets.
A lot of people clearly didn’t understand what happened today with Solana and $XRP, so let’s fix that.
This is NOT Ripple partnering with Solana.
This is NOT $XRP leaving the XRPL.
This is NOT Solana replacing anything.What actually happened.
Wrapped $XRP is being introduced…
— ꪑꪹ ᨶꪖꪊꪶỉꪑꪖ᭢ (@mrcauliman) December 12, 2025
The clarification comes amid XRP’s 1.2% uptick to $2.05 on December 12, as wrapped versions expand its utility across chains like Ethereum and Optimism, potentially unlocking $120 billion in market cap for broader DeFi participation without altering the XRPL’s core design.
The timing of the launch coincides with Solana Breakpoint’s Day 3 session featuring Ripple’s Luke Judge, livestreamed to discuss the integration, as XRP’s post-SEC settlement momentum meets Solana’s speed for remittances and payments.
Follow @Ripple X @luke_judges while he's at @solana Breakpoint with a "PRODUCT KEYNOTE: HEXTRUST" moderated by @vibhu.
Considering Solana just announced a HexTrust partnership, to bolster secure custody and staking rewards…I see more yield options coming for $XRP holders.
Live… pic.twitter.com/0VCIcim0qU— 🌸Crypto Eri ~ Carpe Diem (@sentosumosaba) December 10, 2025
Hex Trust’s push to bring wrapped XRP to Solana arrives in the middle of a broader trend of cross-chain bridges targeting the network’s $8.9 billion DeFi ecosystem. In recent weeks, 21Shares launched the first leveraged Sui ETF on Nasdaq, Tempo activated its payments-focused testnet with Chainalysis-backed real-time monitoring, and Solana Mobile announced plans for a January 2026 SKR token launch tied to its upcoming Seeker smartphone. These parallel developments point to Solana’s growing appeal for both institutional-grade products and consumer-facing crypto hardware, even as security questions linger.
XRP traded at $2.03 on December 12, up 1.61%.
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