On Thursday, Hex Trust made a groundbreaking announcement – they’re launching wrapped XRP! But what does that even mean? Well, it’s a token that lets XRP hop across multiple blockchains, while keeping it backed 1:1 by the original. A fancy way of saying, “Here’s XRP, but more places to play with it!”
Based in Hong Kong (where else?), Hex Trust revealed that wXRP will let XRP get cozy with decentralized finance applications on big-name chains like Ethereum, Solana, Optimism, and even the somewhat obscure HyperEVM. Basically, this means XRP is no longer confined to its own little corner of the blockchain world. Welcome to the party, XRP! 🎉
“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.”
– David ‘JoelKatz’ Schwartz (@JoelKatz) December 12, 2025
Ripple’s CTO, David Schwartz (aka JoelKatz – because why not have a cool Twitter handle), is all in on this. He took to social media to praise the move, saying that spreading XRP across more ecosystems “builds utility” while the XRP Ledger stays firmly planted as the “anchor” of it all. It’s like setting up XRP at a buffet and saying, “Go ahead, eat everything!” 🍽️
Launch Backed by $100 Million in Locked Value (Because Why Not?)
Now, hold onto your hats – this wrapped XRP isn’t just a theoretical dream. Hex Trust plans to launch wXRP with over $100 million in total value locked. Yup, you read that right. They’ve got liquidity from day one, baby! The cool thing is, the wrapped token will only exist when an equivalent amount of native XRP is locked up. And when you redeem it? Boom – it gets burned. A 1:1 ratio, for those who like their math neat and tidy. 🔥
Merchants with the right clearance can mint and redeem the token in a fully compliant and automated process. Oh, and did we mention DeFi features? Yep, wXRP users will get access to liquidity pools, rewards, and the like. So if you’ve ever dreamed of getting paid to play with digital assets, your time has come! 💰
Cross-Chain Trading With RLUSD (Because Ripple Just Keeps Going)
But wait – there’s more! wXRP isn’t just hanging out in a corner. It’s going to be tradeable with Ripple’s very own stablecoin, RLUSD, on Ethereum and other networks where RLUSD calls home. Markus Infanger, senior VP at RippleX, said there’s been growing demand for ways to use XRP across multiple ecosystems. And now, with wXRP, Ripple’s pushing to make DeFi more accessible – regulated, of course, because unregulated stuff tends to get a little wild. 🕺
Custody and Compliance (Because Someone’s Got to Be the Responsible One)
As for how it’s all going to work behind the scenes – Hex Trust promises to hold that XRP in nice, regulated custody accounts. No funny business here, folks. The token also uses LayerZero’s OFT standard for chain transfers. So it’s all above board, with KYC and AML protocols in place. Because, let’s face it, in a world of hacks and shady bridges, who wants to play fast and loose with their crypto?
And who is this for? Well, it’s designed for institutions, DeFi projects, and retail users who want to use XRP in cross-chain applications, minus the risk of those unregulated, hack-prone bridges that make everyone break into a cold sweat. Stay safe, folks. 🛡️
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2025-12-12 06:19