Headline: XRP Lands on Solana via Hex Trust Wrapped Token — Here’s What Changes
Ripple-linked XRP is now usable on Solana after Hex Trust launched a 1:1 wrapped version of the token (wXRP), opening the door for traders, market makers and DeFi users to access XRP across Solana and other EVM-compatible chains.
What happened
- Hex Trust, a regulated custodian, mints wXRP after authorized users deposit native XRP into its custody. Those wrapped tokens are issued on Solana and on supported EVM chains (Ethereum mainnet, Optimism, HyperEVM).
- The rollout, first disclosed in December, went live on Solana this month. Solana’s official account announced the launch on April 17, 2026.
- To date, more than 834,000 XRP (~$1.2 million) has been wrapped and activated on Solana. Separately, about 50 million wXRP (~$74.5 million) was minted on Ethereum, with most of that supply sitting in a single wallet since early November.
Why it matters
- Wrapped, 1:1-backed wXRP lets holders use XRP in DeFi apps and liquidity pools on chains that have far larger DeFi ecosystems than the native XRP Ledger. According to DeFiLlama, Ethereum and Solana hold the top DeFi TVL positions ($57.2B and $6.08B respectively), while the XRP Ledger ranks 41st at roughly $51.46M.
- That expansion enables broader use cases for XRP such as market-making, yield strategies and cross-chain DeFi integration — particularly useful for institutions and market participants who want on-chain exposure to XRP without leaving Solana or Ethereum-based ecosystems.
Adoption and activity so far
- Despite the sizable mint on Ethereum, on-chain activity has been limited: Etherscan shows fewer than 60 transactions involving the wrapped token to date. Much of the minted supply remains in a single wallet, likely tied to the issuer.
- Institutions can register with Hex Trust for early access to the service.
Voices
- “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 Marcus Infanger, SVP at Ripple X, when the project was announced.
Market snapshot
- XRP traded up roughly 2% over the past 24 hours at about $1.49, still some 59% below its July all-time high of $3.65.
Notes
- Hex Trust did not immediately respond to media requests for comment on activity and custodial details.
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