Hong Kong, December 12, 2025 — Hex Trust, a leading regulated digital asset platform for institutions and a qualified custodian, announced it will issue and custody wrapped XRP (wXRP), a 1:1-backed representation of the native XRP asset designed to support DeFi activity and cross-chain utility. As a result, 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.
Authorized merchants will be able to seamlessly mint and redeem wXRP in a secure, automated, and fully compliant environment. wXRP also gives users access to rewards opportunities through supported DeFi platforms, while remaining redeemable 1:1 for native XRP held in Hex Trust’s regulated custody.
wXRP will launch with over $100 million in Total Value Locked, giving the wrapped asset a solid base of liquidity from day one. This level of initial participation helps support smoother trading, more reliable pricing, and a healthier overall market for wXRP.
“With wXRP, we are expanding XRP liquidity in DeFi and cross-chain networks including broader utility between XRP and RLUSD,” said Giorgia Pellizzari, CPO and Head of Custody of Hex Trust. “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.”
Expanding XRP DeFi Utility Across Chains
As one of the top five largest digital currencies by market size, XRP is known for fast, low-cost, and reliable transactions. For more than 12 years, it has been widely used for payments, settlement, and moving value across borders.
wXRP expands XRP’s DeFi utility by making it usable on supported blockchains, starting with Solana, Optimism, Ethereum, HyperEVM, and additional chains for future integration. It gives users and institutions a regulated way to access cross-chain applications including swaps, liquidity provisioning, and, where available, rewards opportunities. Because wXRP is 1:1 backed and redeemable for native XRP, holders can move between chains without relying on unregulated third-party bridges, which helps reduce the counterparty risks.
“There’s growing demand to use XRP across the wider crypto ecosystem and institutions, and so we are excited to see Hex Trust address this demand,” said Markus Infanger, SVP of RippleX. “It also fits naturally with the work we’re doing with RLUSD, giving people a regulated way to access DeFi and manage their XRP positions across supported chains.”
Key Features of wXRP
Supporting a Broad Range of Users
wXRP is designed to meet the needs of multiple participant groups:
By introducing a secure, 1:1-backed wrapped representation of XRP, Hex Trust is extending a proven wrapped-asset model to one of the world’s most established digital assets, opening new cross-chain opportunities for XRP.
Interested merchants can pre-register now for early access and onboarding here.
About Hex Trust
Established in 2018, Hex Trust offers regulated institutional digital asset custody, staking and markets services to builders, investors and service providers. Get access to our comprehensive, secure and regulated suite of services built on our fully integrated infrastructure.
For more information, visit hextrust.com or follow Hex Trust on LinkedIn, X and Telegram.
About Ripple
Ripple is a financial technology company that offers crypto solutions for businesses. Ripple Payments uses blockchain to make cross-border payments faster, more transparent, and widely accessible. Ripple Custody offers customers a secure way to store and manage digital assets. Ripple's stablecoin (RLUSD) and the cryptocurrency, XRP, are leveraged across these solutions to make traditional finance more efficient and enable new ways to utilize digital assets.
