Ripple's Chief Technology Officer David Schwartz reacted positively to the integration of the XRP token into the Solana blockchain. This became possible due to the release of wXRP (wrapped XRP) - a tokenized version of XRP that will allow holders to use their assets in Solana's decentralized finance (DeFi).

💡 Key points of the event

  1. Ripple's Reaction:
    David Schwartz called this event a 'good thing', emphasizing that
    the expansion of the XRP ecosystem creates utility, and the XRP Ledger (XRPL)
    remains the foundation.

  2. Practical benefits of wXRP:
    XRP holders will be able to use wXRP to earn income (e.g., lending, providing liquidity), trading with SOL or stablecoins, and interacting with Solana DeFi applications.

  3. Asset security: wXRP is backed by native XRP at a 1:1 ratio and can be redeemed, which eliminates the risk of losing the underlying asset.

  4. Initial scale: According to reports, the launch of wXRP will occur with over $100 million in total locked value (TVL).

  5. Context of collaboration:
    A representative of the Solana Foundation noted that the integration has been
    the result of dialogue with the XRP community and understanding the uniqueness of this
    asset. This is seen as a step towards greater interaction between
    crypto ecosystems.