Notably, what's happening with XRP and Solana is quite remarkable. Wrapped XRP has just gone live on Solana via Hex Trust and LayerZero, meaning XRP holders can finally deploy their assets in Solana's DeFi ecosystem without selling their underlying position.

What’s interesting here is that each wXRP is backed 1:1 by native XRP stored in separate custody accounts. So you can use your tokens on platforms like Jupiter, Phantom, Titan Exchange, and Meteora, and redeem them at any time. For holders, this is actually quite convenient—you get DeFi exposure without giving up your core holdings.

This is actually part of a much broader picture. Hex Trust is also rolling this out to Ethereum, Optimism, and HyperEVM. We’re seeing more and more tokens originally launched on one chain now moving to other chains to chase yield and liquidity. XRP was always mainly a payment-rail token on its own ledger, but Solana has built a very different model—a high-throughput smart contract platform where DeFi and meme coin activity really happen.

The infrastructure behind all this is LayerZero, the cross-chain messaging protocol. Interestingly, LayerZero has quietly absorbed most of the bridge volume that previously ran through other protocols, especially after those were exploited for over a billion dollars between 2022 and 2024.

The real question is whether holders will actually use this wrapped asset and whether XRP will generate significant DeFi volume on Solana. It’s available, but that doesn’t automatically mean it will be actively used. But at least, it opens the door.