XRP Holders Now Have Direct Access to Solana DeFi Ecosystem

XRP (XRP) holders now have direct access to Solana’s (SOL) DeFi ecosystem through wrapped XRP (wXRP), a 1:1 backed token that lets them earn yield, swap, and lend without selling their native position.

The wrapped token, live through Hex Trust custody and LayerZero’s cross-chain bridge, is already supported in Phantom wallet, Jupiter Exchange, Meteora, Titan Exchange, and byreal_io.

New DeFi Options Without Leaving XRP

For holders who kept XRP primarily for payments and cross-border settlement, wXRP opens a new layer of utility. By depositing native XRP through Hex Trust’s authorized channels, users receive wXRP on Solana and can deploy it across liquidity pools, lending protocols, and decentralized exchanges.

Each wXRP corresponds to one native XRP locked in a segregated custody account.

The token is minted on deposit and burned on redemption, keeping supply fully matched. Holders can redeem back to the XRP Ledger at any time.

This also means wXRP can trade against Ripple’s RLUSD stablecoin on supported chains, giving holders more pairing options for managing their positions.

Risks XRP Holders Should Weigh

Despite regulated custody, wXRP introduces counterparty exposure to Hex Trust as the third-party custodian.

Cross-chain bridges, including LayerZero’s OFT standard, have historically faced exploits, though LayerZero’s architecture avoids unregulated intermediaries.

Minting, bridging, and DeFi participation also carry fees and potential slippage. Larger deposits may require KYC and AML verification through Hex Trust’s compliance process.

wXRP does not replace holding native XRP on the XRP Ledger for settlement use cases.

However, it gives holders a compliant path into one of the most active DeFi ecosystems without abandoning their core XRP exposure.

Despite the news, both XRP and Solana prices only recorded modest surges, rising 2% and 0.9%, respectively. As of this writing, XRP traded for $1.49 while SOL exchanged hands for $89.72.

The post XRP Holders Now Have Direct Access to Solana DeFi Ecosystem appeared first on BeInCrypto.

Source: https://beincrypto.com/wrapped-xrp-solana-xrp-holders/