Hex Trust launches 1:1 wXRP on Solana with $100M liquidity

Hex Trust launched a 1:1 backed wrapped XRP (wXRP) on Solana, minting tokens when authorized users deposit native XRP into its custody and burning wXRP to release XRP on redemption. The deployment was confirmed by Solana’s official account.

Cross-chain transfers use LayerZero’s OFT standard. Hex Trust announced plans on Dec. 12, 2025, to issue wXRP across multiple blockchains, including Solana, Ethereum, Optimism and HyperEVM. The initial rollout was reported to include more than $100 million in XRP liquidity.

Hex Trust publishes on-chain proof of reserves showing about 50.83 million XRP backing wXRP across supported chains. On Solana, roughly 834,498 wXRP are in circulation, equal to about $1.2 million of supply at XRP prices between $1.44 and $1.50.

wXRP can be used on Solana for trading, lending, providing liquidity and posting as collateral. Phantom wallet, Jupiter Exchange, Meteora, Titan Exchange and byreal_io list support for the token. Solana users are directed to verify the official token address at tokens.xyz/xrp, and Hex Trust posts the full Solana contract address on its website to help avoid counterfeit tokens.

Hex Trust restricts minting to KYC/AML-verified participants and operates as a regulated institutional custodian. Cross-chain transfers rely on LayerZero, so custody of native XRP depends on Hex Trust and bridging depends on LayerZero. Hex Trust’s reserve data shows collateral levels but does not remove custodial or bridge risk. wXRP is not a substitute for native XRP in XRP Ledger settlements.

Market activity around the launch saw XRP rise roughly 2% to 5%, with the price holding in the $1.44 to $1.50 range during sessions around the release. Hex Trust and LayerZero plan further deployments to Ethereum and other EVM-compatible chains on a rolling basis.