Overview
- wXRP debuts with more than $100 million in initial liquidity and a design that mirrors native XRP one-for-one under Hex Trust custody.
- The asset uses LayerZero’s Omnichain Fungible Token standard to enable movement across ecosystems targeted at Ethereum, Solana, Optimism, and HyperEVM.
- Early on-chain data show roughly 50 million wXRP circulating on Ethereum with comparable XRP reserves disclosed on Hex Trust’s dashboard, while Solana launch is promoted as coming soon.
- Minting and redemption are limited to authorized merchants in a regulated, automated process, with burns on redemption to maintain 1:1 collateralization.
- Ripple and Solana stakeholders publicly backed the rollout as a way to expand XRP’s DeFi utility, even as XRP’s price stayed range-bound near $2.00–$2.05.