Hex Trust Launches wXRP to Expand XRP Across Major Blockchains

Hex Trust’s wXRP is engineered as a one-to-one, fully-backed representation of native XRP, specifically created to expand the asset’s role beyond its native XRP Ledger (XRPL). By using LayerZero’s Omnichain Fungible Token (OFT) standard, wXRP allows users to move value between supported chains without relying on unregulated third-party bridges—a common point of failure and risk in the crypto space. Hex Trust emphasizes that this offers a more transparent and auditable structure, backed by insurance coverage and institutional-grade safeguards. The token will be exclusively issued when an equivalent amount of native XRP is deposited into segregated custody accounts and burned upon redemption, ensuring the supply remains fully collateralized.

The launch is strategically timed to capitalize on growing cross-chain demand. Markus Infanger, Senior Vice President at RippleX, highlighted this trend, stating, “We are excited to see Hex Trust address this demand. It also fits naturally with the work we’re doing with RLUSD, giving people a regulated way to access DeFi and manage their XRP positions across supported chains.” This synergy with Ripple’s ecosystem, particularly the RLUSD stablecoin, is a core component of the wXRP value proposition, enabling new trading pairs and financial applications across multiple networks.

A critical factor for wXRP’s immediate viability is its substantial initial liquidity. Hex Trust revealed the token will launch with more than $100 million in total value locked (TVL). This capital is intended to support deep liquidity pools from day one, helping to stabilize pricing and reduce slippage for traders—a common hurdle for new asset launches. The firm has designed an automated, compliant system where authorized merchants can mint and redeem wXRP, facilitating a smooth on- and off-ramp for the wrapped asset.

The utility of wXRP extends across user segments. Retail users, DeFi protocols, and institutional liquidity providers will gain access to a suite of activities including swaps, lending, and liquidity provisioning across the supported blockchains. Furthermore, market makers, over-the-counter (OTC) desks, and funds will be able to integrate wXRP into their trading and collateral environments. Businesses are also envisioned to support wXRP and RLUSD in payment and checkout services, potentially bridging crypto-native assets with broader commerce.

This launch coincides with positive on-chain signals for XRP. Analytics firm CryptoQuant recently reported that network velocity on the XRPL surged to a record 0.0324 in early December, indicating XRP is circulating more frequently among users rather than sitting idle. This spike reflects increased liquidity and participation from traders and large holders, suggesting a fertile environment for expanding XRP’s use cases through wrappers like wXRP.

The wXRP announcement is part of a broader pattern of expansion for Ripple’s ecosystem. In a separate but related development, Ripple has partnered with AMINA Bank AG, which will utilize Ripple Payments to offer near-real-time cross-border transactions. AMINA stated this integration aims to reduce operational friction for web3-focused clients when interacting with traditional banking, improving speed and settlement efficiency. This enterprise move complements the decentralized finance focus of wXRP, showcasing Ripple’s dual-track strategy of enhancing both institutional payment rails and open, cross-chain DeFi accessibility.

Looking ahead, Hex Trust indicated that additional blockchains are expected to be integrated with wXRP over time, extending XRP’s reach into an ever-growing array of multichain applications. The combination of a regulated, fully-backed wrapper, significant initial liquidity, and alignment with Ripple’s stablecoin and enterprise strategies positions wXRP as a potentially pivotal infrastructure piece. It seeks to transform XRP from a primarily ledger-specific asset into a versatile, cross-chain financial instrument capable of meeting the evolving demands of both decentralized finance and institutional finance.