Ripple CTO Endorses New XRP DeFi Opportunity, Calls It a “Good Thing”

Ripple’s CTO, David Schwartz, publicly endorses a major new initiative that expands the presence of XRP across the broader DeFi landscape. 

Notably, the initiative centers on Hex Trust’s launch of wrapped XRP (wXRP), a fully collateralized, 1:1-backed token. Specifically, wXRP extends XRP’s usability beyond the XRP Ledger into some of the industry’s largest DeFi ecosystems. 

Hex Trust Launches wXRP 

Hex Trust announced the rollout of wXRP today, emphasizing that the wrapped asset is built to enhance XRP’s DeFi activity and cross-chain utility.

With wXRP, users can trade XRP against RLUSD on Ethereum and other supported chains. Moreover, it opens access to DeFi opportunities across multiple networks, including Solana, Optimism, and HyperEVM. Accordingly, retail users will get simple access to swaps, lending, and other DeFi opportunities on supported chains.

Notably, each wXRP corresponds to one XRP held in Hex Trust’s regulated custody. Users deposit their native XRP into Hex Trust and mint an equivalent amount of wXRP, ensuring transparent 1:1 backing at all times. 

Remarkably, Hex Trust is launching wXRP with more than $100 million in TVL, giving the asset meaningful liquidity from the outset. This initial commitment enables smoother trading and more stable token pricing. 

Furthermore, Hex Trust leverages LayerZero’s Omnichain Fungible Token (OFT) standard to power wXRP’s cross-chain interoperability. This architecture enables secure movement of the wrapped asset across supported blockchains without relying on unregulated third-party bridges. 

Ripple Execs React 

The launch of wXRP drew a reaction from Ripple’s CTO David Schwartz, who welcomed the development as a positive step forward. He noted that allowing XRP to operate across more environments directly enhances the asset’s long-term utility.  

Additionally, Schwartz said the XRPL remains the foundational anchor that enables the entire ecosystem to function effectively.  

More XRP ecosystems is a good thing. Letting XRP operate in more environments builds utility, and the XRPL remains the anchor that makes it all work. https://t.co/szCfaj3KcL

— David 'JoelKatz' Schwartz (@JoelKatz) December 12, 2025

Meanwhile, RippleX’s SVP Markus Infanger expressed strong enthusiasm for the project, welcoming the launch of wXRP. He noted the growing demand to use XRP across multiple blockchains and highlighted that the initiative will provide users with regulated access to the DeFi ecosystem. 

XRP Holders Get More DeFi Opportunities 

The development adds to the expanding list of DeFi opportunities being built around XRP. Although XRP originally launched without native DeFi capabilities, the asset has steadily gained new avenues for holders to participate in the DeFi ecosystem. 

Projects like Flare Network and Axelar have already enabled XRP holders to access yield-bearing opportunities across multiple chains. The new initiative from Hex Trust follows a similar model, allowing users to deposit their native XRP and mint a wrapped version that can be deployed across various DeFi platforms. 

Meanwhile, additional projects are exploring ways to deepen XRP’s presence in DeFi. Cardano founder Charles Hoskinson recently disclosed plans to advance discussions on giving XRP holders more robust yield-generating opportunities.