XRP Is Coming To Solana Via Hex Trust And LayerZero Bridge

Solana is making a straight-for-the-liquidity play: deliver XRP on-chain in a approach that appears acquainted to DeFi customers, however legible to establishments. In a sequence of posts on X early Friday, Solana mentioned XRP is “coming to Solana,” with Hex Trust and LayerZero set to bridge and challenge a wrapped model of the token—wXRP—designed to be “DeFi-ready” on Solana whereas staying redeemable 1:1 for native XRP on the XRP Ledger.

XRP Heads To Solana As Wrapped Token

That “redeemable 1:1” line is doing lots of work. According to Hex Trust, wXRP might be issued solely when an equal quantity of XRP is deposited into custody, and it is going to be burned when redeemed—traditional wrapped-asset mechanics, however with a compliance wrapper aimed squarely at greater stability sheets. The agency mentioned it’ll act as issuer and custodian for the underlying XRP, describing wXRP as a 1:1-backed illustration of native XRP constructed to assist cross-chain utility and DeFi exercise.

“XRP has stood the check of time and cemented itself as considered one of crypto’s preeminent and most liquid currencies. XRP’s lengthy standing utility meets Solana’s high-performance execution. With vital day one liquidity, merchants, holders, and establishments can use XRP inside main Solana DEXes, lending markets, and liquidity protocols, whereas sustaining publicity to the underlying asset and 24/7 XRPL redemption rights,” the Solana Foundation stated in a thread by way of X on December 12.

The different headline declare: liquidity, instantly. Hex Trust mentioned wXRP is anticipated to launch with over $100 million in whole worth locked, framing it as “day one” depth that ought to assist with pricing and market well being as soon as the token begins circulating throughout venues.

LayerZero’s position is the plumbing. Hex Trust mentioned wXRP might be issued on LayerZero’s Omnichain Fungible Token (OFT) commonplace, positioning it to maneuver throughout a number of networks quite than stay as a one-off wrapper on a single chain. Solana is first, with Hex Trust additionally naming Optimism, Ethereum, and HyperEVM amongst preliminary targets, plus extra chains later.

Why now? Solana’s pitch is mainly: XRP is old-school liquid, Solana is high-throughput, and the mixture ought to unlock new use instances with out forcing holders to exit the asset. The sensible model of that’s easy—wXRP turns into usable inside Solana’s DEXs, lending markets, and liquidity protocols whereas protecting a standing redemption path again to XRPL.

The delicate model is about who’s allowed by the door: Hex Trust says minting and redemption is designed for “approved retailers” in a KYC/AML-compliant environment, which is the form of sentence that tends to indicate up when the goal person is a market maker, not a meme dealer.

And sure, the messaging is attempting to string the custody needle. Solana Foundation product advertising lead Vibhu Norby described the bridge as “self-custodial from finish to finish” whereas emphasizing 1:1 redemption again to the ledger—language meant to reassure crypto-native customers that this isn’t “paper XRP,” even when the underlying asset is sitting with a regulated custodian.

Via X, Norby commented on the story behind the partnership: “In November, I unexpectedly became enemy #1 of the XRP Army. Through the ensuing public studying course of, I had an opportunity to fulfill many OG devs, core group members, memelords, and the group at Ripple itself, and I got here to an understanding of the distinctiveness of XRP as an asset, and its group.”

More coloration is anticipated on Day 3 of Solana Breakpoint, the place RippleX’s Luke Judges is listed on the agenda for a brief “Product Keynote: Hextrust” session moderated by Norby. If this rollout goes the way in which Solana is implying, that slot is much less ceremonial than it sounds.

At press time, XRP traded at $2.0284.