Growing institutional participation continues to shape XRP’s trajectory as regulated infrastructure broadens its role beyond payments. Hex Trust, a licensed and regulated global digital asset financial institution, announced on Dec. 12 that it will issue and custody wrapped XRP (wXRP), focusing on DeFi expansion and cross-chain utility.

The announcement states:

wXRP’s use case will expand beyond the XRP Ledger and will be tradable with RLUSD on Ethereum and other chains where RLUSD is available.

Hex Trust explained that wXRP is a 1:1-backed representation of native XRP, issued only when the equivalent amount of XRP is held in its regulated custody. The company added that wXRP will launch with more than $100 million in total value locked, providing what it described as a strong liquidity foundation from day one. Hex Trust said this initial scale is intended to support smoother trading, more reliable price discovery, and healthier market conditions at launch.

Giorgia Pellizzari, CPO and head of custody of Hex Trust, stated: “With wXRP, we are expanding XRP liquidity in DeFi and cross-chain networks including broader utility between XRP and RLUSD.” She added: “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.”

Read more: 21shares XRP ETF Finally Goes Live With Institutional Demand Heating

Industry participants have echoed support for the expansion of XRP into additional environments. Ripple CTO David Schwartz shared on social media platform X:

More XRP ecosystems is a good thing. Letting XRP operate in more environments builds utility, and the XRPL remains the anchor that makes it all work.

Ripple Senior Executive Officer and managing director for the Middle East and Africa Reece Merrick also shared on X: “More XRP ecosystems are a good thing. Hex Trust just launched Wrapped XRP (wXRP) on LayerZero’s OFT Standard, starting with Solana to bring native XRP liquidity to DeFi across chains.”

Hex Trust explained that wXRP is designed to extend XRP’s role beyond payments and settlement into regulated, multichain DeFi activity. The company detailed that wXRP will initially support blockchains including Solana, Optimism, Ethereum, and HyperEVM, with additional integrations planned. It also emphasized that all underlying XRP is held in segregated custody, with tightly controlled issuance and redemption to ensure the circulating supply of wXRP always matches reserves.

• What is wrapped XRP (wXRP)?
  wXRP is a 1:1-backed representation of XRP designed for regulated DeFi and cross-chain use.
• Who is issuing and custoding wXRP?
  Hex Trust is issuing and custoding wXRP under a fully licensed and regulated framework.
• Which blockchains will support wXRP?
  wXRP will start on Solana, Optimism, Ethereum, HyperEVM, with more chains planned.
• How much liquidity will wXRP have at launch?
  wXRP is launching with over $100 million in Total Value Locked.

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