wXRP: Новый шаг в развитии ликвидности XRP на Ethereum и Solana Translation: wXRP: A New Step in Enhancing XRP Liquidity on Ethereum and Solana

The custodial service Hex Trust is set to launch a wrapped version of XRP—designated as wXRP—with a 1:1 ratio. This will enable users to take the asset outside of its native XRP Ledger (XRPL) network.

wXRP will be available for trading in pairs with Ripple’s RLUSD stablecoin on Ethereum, Solana, Optimism, and HyperEVM, with plans for integration into additional blockchains.

Automated market makers will have the ability to create and redeem wrapped XRP in a “safe and fully compliant environment,” as stated in Hex Trust’s blog.

The custodial service representatives emphasized that each unit of wXRP is backed by native XRP held in custodial storage. Users can exchange new coins for the underlying asset at any time.

Additionally, users will have the opportunity to earn through the wrapped token via supported decentralized services.

“With the launch of wXRP, we are enhancing the liquidity of XRP within DeFi ecosystems, particularly boosting the interoperability between the token and the RLUSD stablecoin,” said George Pellicciari, Chief Product Officer and head of the custodial division at Hex Trust.

At launch, the total value locked (TVL) in wXRP will stand at $100 million. According to Hex Trust, this will lay a solid foundation for initial liquidity, ensuring smooth trading and stable pricing.

Disputes about the practical value of XRP within the crypto community have persisted for years. The latest round of discussions was triggered by statements from Matthew Sigel, head of digital asset research at VanEck, who indicated that the token does not provide financial benefits to users and that the XRPL network lacks real applications.

Hex Trust is not the only company seeking to identify new use cases for Ripple’s coin. In June, the crypto exchange Coinbase introduced a wrapped asset called cbXRP on the Base L2 network. At the time of writing, its market cap had reached $39 million.

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

Previously, Ayo Akinyele, head of the RippleX team, and Ripple’s CTO David Schwartz published a draft concept for implementing native staking of the coin. Schwartz noted that the realization of this initiative, together with smart contract implementation, aims to enhance XRPL’s capabilities in the DeFi space.

Lastly, it is worth mentioning that in August, Teucrium’s CEO, Sal Gilbertie, speculated about the possibility of competition between Ripple and SWIFT.