Overview
- wXRP is a 1:1 representation of XRP held in segregated custody with automatic burning on redemption, and issuance is limited to authorized merchants in a regulated, automated process.
- The launch is live on Solana with announced support for Ethereum, Optimism and HyperEVM using LayerZero’s OFT standard for cross‑chain movement.
- More than $100 million in initial liquidity targets immediate DeFi use, including swaps, lending, liquidity provisioning, collateralization and pairing with RLUSD.
- RippleX, Ripple CTO David Schwartz and the Solana Foundation publicly backed the rollout, framing it as a compliant path to expand XRP utility across ecosystems.
- Separately, Ripple reported conditional OCC approval to charter Ripple National Trust Bank for RLUSD oversight, and market coverage noted XRP trading remained range‑bound near $2.00–$2.05.