Hex Trust To Launch And Custody wXRP, Expanding XRP’s DeFi Utility Across Blockchains
In Brief
Hex Trust has launched and will custody wXRP, a fully 1:1‑backed token extending XRP’s DeFi and cross‑chain utility with over $100M in initial liquidity.
Hex Trust, a regulated digital asset platform serving institutional clients and acting as a qualified custodian, has announced that it will issue and provide custody for wrapped XRP (wXRP). This token represents the native XRP asset on a 1:1 basis and is designed to facilitate decentralized finance activity and cross-chain applications. As a result, wXRP’s functionality will extend beyond the XRP Ledger, allowing it to be traded alongside RLUSD on Ethereum and any other chains where RLUSD is available.
Authorized merchants will have the ability to mint and redeem wXRP in a secure, automated, and fully compliant manner. The token also enables users to participate in yield-generating opportunities on supported DeFi platforms, while maintaining the assurance that each wXRP can be redeemed 1:1 for native XRP held under Hex Trust’s regulated custody.
At launch, wXRP will have over $100 million in Total Value Locked, providing the wrapped asset with a strong liquidity foundation from the outset. This level of initial participation is intended to support smoother trading, more consistent pricing, and a more strong overall market for wXRP.
“With wXRP, we are expanding XRP liquidity in DeFi and cross-chain networks, including broader utility between XRP and RLUSD,” said Giorgia Pellizzari, CPO and Head of Custody of Hex Trust, in a written statement. “Users of wXRP and RLUSD will benefit from two assets that are built on trusted, compliant infrastructure, enabling broader DeFi utility for XRP and RLUSD across supported blockchains,” she added.
Expanding XRP’s DeFi Utility Across Chains
As one of the largest digital currencies by market capitalization, XRP is recognized for its fast, low-cost, and reliable transaction capabilities. For over a decade, it has been widely utilized for payments, settlement, and transferring value across borders.
Wrapped XRP (wXRP) extends the utility of XRP into the decentralized finance ecosystem by making it compatible with supported blockchains, initially including Solana, Optimism, Ethereum, HyperEVM, and other chains slated for future integration. It provides both individual users and institutions with a regulated mechanism to participate in cross-chain applications such as token swaps, liquidity provision, and, where available, yield-generating opportunities. Because wXRP is fully backed on a 1:1 basis and redeemable for native XRP, holders can move assets across chains without relying on unregulated third-party bridges, reducing counterparty risk.
“There’s growing demand to use XRP across the wider crypto ecosystem and institutions, and we are excited to see Hex Trust address this demand,” said Markus Infanger, SVP of RippleX, in a written statement. “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,” he added.
Each wXRP token is fully backed and transparently managed, with one token corresponding directly to one XRP held in a segregated custody account managed by Hex Trust. Tokens are only issued when the equivalent amount of XRP has been deposited, and they are burned upon redemption, ensuring that the total supply of wXRP consistently matches the XRP held in custody. All underlying XRP is securely stored in Hex Trust’s institutional-grade, regulated custody system, which adheres to KYC and AML requirements, includes insurance coverage, and allows for full auditability.
wXRP supports cross-chain interoperability, enabling users to engage in multi-chain decentralized finance use cases, and facilitates trading and liquidity pairing with RLUSD on supported blockchains, providing seamless access to combined liquidity and trading opportunities.
Hex Trust Expands XRP Utility With wXRP To Serve Institutions, DeFi, Retail, And Businesses
wXRP is structured to serve a wide spectrum of participants. Institutional liquidity providers, including market makers, OTC desks, and liquidity pools, can offer substantial depth for wXRP trading pairs alongside RLUSD. Decentralized finance protocols, DAOs, and investment funds can incorporate wXRP as collateral or liquidity, broadening XRP’s reach across multiple blockchains. Retail investors and merchant users can utilize wXRP on supported chains for token swaps, lending, and, where available, yield-generating opportunities. Businesses can also integrate wXRP and RLUSD into customer-facing services, such as payments, swaps, checkout options, or applications that enable users to buy, sell, or transfer digital assets.
By providing a secure, fully 1:1-backed wrapped version of XRP, Hex Trust is extending a well-established wrapped-asset framework to one of the most recognized digital currencies, creating new possibilities for cross-chain usage and wider participation in the XRP ecosystem.
Disclaimer
In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
