XRP goes live on Solana: DeFi access and liquidity boost

Wrapped XRP (wXRP) is now live on Solana, letting XRP holders access DeFi, trade, and lend without selling. Over 834,000 XRP has been minted, boosting liquidity and cross-chain utility.

XRP holders now have direct access to Solana’s decentralized finance (DeFi) ecosystem with the launch of wrapped XRP (wXRP), a 1:1 backed token introduced by Hex Trust and LayerZero. This integration allows users to earn yield, swap, and lend on Solana without selling their native XRP, expanding XRP’s utility beyond payments and settlements. Already, over 834,000 XRP—worth about $1.2 million—has been minted as wXRP. Major Solana platforms such as Phantom Wallet, Jupiter Exchange, Meteora, and Titan Exchange support the token. Each wXRP is fully backed by native XRP held in segregated custody, with minting and burning mechanisms ensuring a 1:1 supply parity. The initiative aims to boost XRP’s liquidity and attract new traders, especially as activity on its native ledger has slowed. This partnership also paves the way for wXRP to connect with other ecosystems like Ethereum and Optimism, increasing its cross-chain utility. While the custody model introduces some counterparty risk, institutional-grade security measures are in place to mitigate concerns.