XRP’s Launch On Ethereum And Solana Shakes Crypto – Expert Explains What It Means
The XRP ecosystem has expanded with the launch of Wrapped XRP (wXRP) on the Solana and Ethereum blockchains. Issued by regulated custodian Hex Trust using LayerZero’s OFT standard, wXRP is a 1:1 backed representation of native XRP, enabling DeFi functionality across multiple chains. The token will first launch on Solana before expanding to other networks.
Crypto expert Mr. Cauliman clarified that this does not represent a formal partnership between Ripple and Solana, nor does it mean XRP is leaving its native ledger. Wrapped XRP is a tool to access liquidity in other ecosystems, reflecting growing recognition of XRP’s utility in DeFi. However, wXRP carries risks like counterparty, bridge, and custodial risks—which native XRP avoids.
wXRP will debut with over $100 million in Total Value Locked (TVL), supporting secure minting, redemption, and cross-chain applications like swaps and liquidity provisioning. This move enhances XRP’s credibility, utility, and adoption beyond the XRP Ledger.
bitcoinist12/14 01:02