What is wXRP and where can it be used?

wXRP is a regulated, 1:1-backed wrapped XRP issued by Hex Trust, usable on networks like Solana, Optimism, and Ethereum for trading and liquidity provision.

Has Ripple received any new banking approvals?

Yes, Ripple has received conditional OCC approval to charter Ripple National Trust Bank, enhancing stablecoin compliance.

How does wXRP benefit the XRP ecosystem?

wXRP expands XRP's multichain reach, integrates it into DeFi, and unlocks new liquidity pairs beyond the native XRPL.

Home / Business and Economy / Hex Trust Bridges XRP to Solana, Unlocking DeFi

Hex Trust Bridges XRP to Solana, Unlocking DeFi

14 Dec

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Summary

Wrapped XRP (wXRP) now accessible on Solana and other networks.
wXRP debuts with over $100 million in total value locked.
Ripple receives OCC approval for its national trust bank charter.

Hex Trust Bridges XRP to Solana, Unlocking DeFi

Hex Trust has significantly expanded XRP's utility by launching wXRP, a regulated, 1:1-backed wrapped asset. This innovation allows XRP to seamlessly integrate with the Solana, Optimism, and Ethereum ecosystems, among others. With over $100 million in total value locked from its inception, wXRP provides immediate deep liquidity, enhancing trading and decentralized finance opportunities beyond the native XRPL.

The introduction of wXRP is poised to bolster the XRP-RLUSD relationship, creating new liquidity pools and extending XRP's decentralized finance presence. This strategic expansion aims to foster collaboration across crypto ecosystems, moving beyond competition to collectively advance the financial system. The development is seen as a crucial step in realizing a future where digital assets operate more interoperably and efficiently.

In parallel, Ripple achieved a major regulatory milestone with conditional approval from the OCC for its national trust bank charter. This development, alongside state NYDFS oversight, strengthens compliance for RLUSD. The broader XRP community anticipates increased real utility as more ecosystems embrace XRP, with the XRPL remaining the secure foundation for this growing network.