Новый мир для XRP: обернутый токен wXRP запускает ликвидность на Ethereum и Solana Headline: A New Realm for XRP: Wrapped Token wXRP Launching Liquidity on Ethereum and Solana

The custodial service Hex Trust is set to launch wrapped XRP, known as wXRP, at a 1:1 ratio. This will enable the asset to be utilized outside of its native network, the XRP Ledger (XRPL).

wXRP will be available for trading paired with Ripple’s RLUSD stablecoin across various platforms, including Ethereum, Solana, Optimism, and HyperEVM. There are plans for integrating additional blockchains in the future.

Automated market makers will be able to create and redeem wrapped XRP in a «secure and fully compliant environment,» as stated in Hex Trust’s blog.

The custodial service representatives emphasized that every wXRP unit is backed by native XRP held in custodial storage. New coins can always be exchanged for the underlying asset.

Users will also have the opportunity to earn through the wrapped token via supported decentralized services.

“With the launch of wXRP, we are expanding XRP liquidity within the DeFi ecosystems, particularly enhancing the usability of the token alongside the RLUSD stablecoin,” stated George Pellicciari, Chief Product Officer and Head of Custodial Services at Hex Trust.

At launch, the total value locked (TVL) of wXRP will stand at $100 million. According to Hex Trust, this will create a strong foundation of initial liquidity to ensure smooth trading and stable pricing.

Debates regarding the practical value of XRP have persisted within the crypto community for many years. A new wave of discussion was sparked by comments from Matthew Sigel, head of digital asset research at VanEck, who claimed that the token does not provide financial benefits to users and that the XRPL network lacks real-world applications.

Hex Trust is not the only company seeking new use cases for Ripple’s coin. In June, cryptocurrency exchange Coinbase introduced the wrapped asset cbXRP on the Layer 2 network Base, which had achieved a market cap of $39 million at the time of writing.

In early December, the Firelight Finance project unveiled a protocol for staking XRP on the Flare network, launching the liquidity token stXRP.

Previously, RippleX team leader Ayo Akinyele and Ripple’s CTO David Schwartz released sketches of a concept for implementing native staking for the coin. Schwartz noted that the initiative, along with the introduction of smart contracts, aims to enhance XRPL’s DeFi capabilities.

It is worth mentioning that in August, Teucrium CEO Sal Gilbertie suggested the potential for competition between Ripple and SWIFT.