XRP Expands Into DeFi as Wrapped Version Goes Multi-Chain
The post XRP Expands Into DeFi as Wrapped Version Goes Multi-Chain appeared on BitcoinEthereumNews.com.
Altcoins XRP is about to make a major leap beyond its home ecosystem. Hex Trust, a digital asset custodian known for handling institutional-grade infrastructure, is rolling out a wrapped version of XRP that will operate across several blockchains – starting not on the XRP Ledger, but on Solana, one of the fastest networks in the industry. The initiative transforms XRP from a largely single-chain asset into one that can participate natively in DeFi environments far outside its traditional footprint. Key Takeaways Hex Trust is introducing wrapped XRP to bring the asset into multi-chain DeFi, starting with Solana. wXRP is fully backed by native XRP held in regulated, audited custody. LayerZero’s OFT tech enables seamless movement of wXRP across multiple blockchains. The launch begins with over $100M in TVL, boosting liquidity and pairing options with RLUSD. Rather than relying on community-run bridges or third-party wrapping services, Hex Trust is issuing the new token itself. Each unit of wrapped XRP (wXRP) corresponds to actual XRP held under regulated custody – segregated, audited and fully redeemable. This means traders and institutions can use XRP in ecosystems like Solana, Optimism, and Ethereum without ever giving up the safety guarantees of a licensed custodian. Where the original XRP Ledger handles settlement, wXRP is designed for everything else: yield strategies, liquidity pools, swaps, and multi-chain trading pairs. Hex Trust expects the asset to launch with more than $100 million in TVL, giving it immediate relevance inside DeFi markets. LayerZero Connects It All Together The glue holding the system together is LayerZero’s OFT (Omnichain Fungible Token) standard. Instead of the old model – lock tokens on one chain, mint them on another – OFT allows an asset to move across blockchains using a purpose-built messaging layer. This is the same interoperability architecture being adopted by major institutions…
