The custodial service Hex Trust is set to launch wrapped XRP — wXRP — at a 1:1 ratio. This will enable the asset to extend beyond its native XRP Ledger (XRPL) network.
🚀 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 will be available for trading in pairs with the stablecoin RLUSD from Ripple on Ethereum, Solana, Optimism, and HyperEVM. Plans include integrating more blockchains.
Automated market makers will have the opportunity to create and redeem wrapped XRP in a “secure and fully compliant environment,” according to Hex Trust’s blog.
Representatives of the custodian emphasized that each unit of wXRP is backed by native XRP held in custody. The new coins can always be exchanged for the underlying asset.
Users will also be able to earn with the wrapped coin through supported decentralized services.
“With the launch of wXRP, we are expanding XRP liquidity in DeFi ecosystems, including enhancing the interoperability of the token and the RLUSD stablecoin,” said Hex Trust’s Chief Product Officer and Head of Custody, Georgia Pelliccari.
Initially, the TVL of wXRP will be $100 million. According to Hex Trust, this will create a solid foundation of initial liquidity to ensure smooth trading and stable pricing.
What is the Strength?
Debates over the practical value of XRP in the crypto community have persisted for years. A new round of discussion was sparked by a statement from VanEck’s Head of Digital Asset Research, Matthew Sigel. He stated that the token does not provide financial benefits to users and that the XRPL network lacks real-world application.
Hex Trust is not the only company seeking new use cases for Ripple’s coin. In June, the cryptocurrency exchange Coinbase introduced a wrapped asset, cbXRP, on the L2 network Base. By the time of writing, its market capitalization had reached $39 million.
In early December, the Firelight Finance project introduced a protocol for staking XRP on the Flare network, launching the liquidity token stXRP.
🔥 Firelight is LIVE → https://t.co/QT8qYUKDd2
A new era of economic security begins today.
We’re unlocking $XRPs full utility in DeFi and opening the door to scalable, on-chain protection.
Learn more about our vision: https://t.co/4L4pELkXWA pic.twitter.com/9iqn2MTT4r
— Firelight (@Firelightfi) December 3, 2025
Earlier, RippleX team leader Ayo Akinyele and Ripple CTO David Schwartz published drafts of a concept for implementing native staking of the coin. Schwartz noted that the initiative’s implementation, alongside the introduction of smart contracts, aims to enhance XRPL’s capabilities in the DeFi sector.
Back in August, Teucrium CEO Sal Gilbertie suggested that Ripple could compete with SWIFT.