Hex Trust announces issuing and custody of wrapped XRP
12 December 2025 Hong Kong
Image: Hex_Trust
Digital asset platform Hex Trust has announced it will issue and custody wrapped XRP (wXRP), a 1:1-backed representation of the native XRP asset designed to support DeFi and cross-chain utility, becoming tradeable with Ripple USD (RLUSD) on ethereum, and other chains where RLUSD is available.
wXRP will launch with over US$100 million in Total Value Locked, intended to support smoother trading and reliable pricing.
Authorised merchants will be able to mint and redeem wXRP in a secure, automated, and fully compliant environment, according to the company, and will be redeemable 1:1 for native XRP held in Hex Trust’s regulated custody.
Giorgia Pellizzari, chief product officer and head of custody at Hex Trust, says: “With wXRP, we are expanding XRP liquidity in DeFi and cross-chain networks, including broader utility between XRP and RLUSD.”
wXRP will be made usable on supported blockchains, initially beginning with solana, optimism, ethereum, and HyperEvm, among planned additional chains for future integration.
Hex Trust says institutions will benefit from the ability to access cross-chain applications, including swaps, liquidity provisioning, and rewards opportunities, in a regulated manner.
Senior vice president of RippleX, Markus Infanger, says: “There’s growing demand to use XRP across the wider ecosystem and institutions, and so we are excited to see Hex Trust address this demand.”
wXRP will launch with over US$100 million in Total Value Locked, intended to support smoother trading and reliable pricing.
Authorised merchants will be able to mint and redeem wXRP in a secure, automated, and fully compliant environment, according to the company, and will be redeemable 1:1 for native XRP held in Hex Trust’s regulated custody.
Giorgia Pellizzari, chief product officer and head of custody at Hex Trust, says: “With wXRP, we are expanding XRP liquidity in DeFi and cross-chain networks, including broader utility between XRP and RLUSD.”
wXRP will be made usable on supported blockchains, initially beginning with solana, optimism, ethereum, and HyperEvm, among planned additional chains for future integration.
Hex Trust says institutions will benefit from the ability to access cross-chain applications, including swaps, liquidity provisioning, and rewards opportunities, in a regulated manner.
Senior vice president of RippleX, Markus Infanger, says: “There’s growing demand to use XRP across the wider ecosystem and institutions, and so we are excited to see Hex Trust address this demand.”
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