Overview
- Hex Trust began issuing wXRP using LayerZero’s OFT standard as a 1:1 redeemable representation of XRP held in segregated custody with KYC/AML‑gated mint and redemption.
- The launch opened with more than $100 million in liquidity, and Hex Trust’s dashboard showed about 50 million XRP backing roughly 50 million wXRP already circulating on Ethereum.
- Deployment is live on Ethereum while Solana support has been announced with rollout commencing, with contracts created on Optimism and HyperEVM for subsequent activation.
- RippleX and Solana figures endorsed the initiative, which is designed to pair with RLUSD and enable swaps, lending, collateral use and market‑making across supported chains.
- XRP’s price remained range‑bound near $2.00–$2.05 as reporting highlighted custodial and messaging‑layer counterparty risks; separately, Ripple said it received conditional OCC approval for a national trust bank.