Solana is now accessible on the XRP Ledger’s native decentralized exchange through a wrapped SOL asset issued through Axelar, extending interoperability between the two blockchain ecosystems.
Summary
- Axelar-issued SOL is now tradable through XRP Ledger’s native decentralized exchange using multiple ecosystem interfaces.
- XRPL Foundation director Hussein Zangana warned Axelar currently remains the only legitimate wrapped SOL issuer.
- Official XRPL EVM documentation identifies Axelar’s mainnet gateway address as rfmS3zqrQrka8wVyhXifEeyTwe8AMz2Yhw for cross-chain asset transfers.
- Axelar connected Solana to its interoperability network in June, enabling transfers with XRP Ledger ecosystems.
- Wrapped SOL represents Solana exposure on XRPL and should not be confused with native SOL.
Axelar confirmed the availability in an Aug. 14 post, directing users to SOL/XRP trading on XPMarket.
Hussein Zangana, known as Vet, warned users that Axelar is currently “the only legitimate issuer” of wrapped SOL on XRPL and told traders to beware of copycat assets. His warning matters because tokens on the XRP Ledger are identified by both their currency code and issuer account, rather than a ticker alone.
Solana becomes tradable through XRPL’s native DEX
Users can access the Axelar-issued SOL representation through interfaces including XPMarket, First Ledger and Magnetic. Xaman users can also reach the asset through the wallet’s swap interface. These platforms connect into XRPL’s native exchange infrastructure rather than operating separate order books for each front end.
On-chain data confirms activity involving SOL and the Axelar gateway. XRPScan identifies rfmS3zqrQrka8wVyhXifEeyTwe8AMz2Yhw as the Axelar Bridge account and records SOL-related transactions, including an OfferCreate transaction on Aug. 14. Official XRPL EVM documentation independently lists the same address as Axelar’s XRPL mainnet gateway.
Axelar’s issuer address is the key security check
Zangana’s warning reflects how XRPL-issued assets work. Official XRP Ledger documentation states that tokens are identified by the combination of an issuer and currency code. Two assets can therefore use the same ticker while being issued by different accounts.
That means seeing “SOL” in a wallet or DEX is not enough to establish authenticity. Bithomp’s verified-domain records associate the Axelar Bridge account with axelar.foundation, while XRPScan labels the same account Axelar Bridge. Interface checkmarks can help users, but users should verify the issuer address before creating a trust line or executing a trade.
Axelar connected Solana and XRPL before the DEX launch
The trading rollout builds on Axelar’s June 3 integration of Solana mainnet. Axelar said the connection enabled cross-chain messaging and asset transfers between Solana and more than 70 supported ecosystems, specifically naming XRP Ledger, Ethereum, Stellar, Sui and Hedera.
The interoperability has already moved in the opposite direction. As crypto.news previously reported, wrapped XRP expanded onto Solana through Hex Trust and LayerZero, giving XRP access to Solana-based wallets and DeFi applications.
Wrapped assets introduce additional dependencies beyond the underlying networks. In related coverage, cross-chain bridges have suffered billions of dollars in historical exploit losses, making issuer verification and bridge security important when handling representations of assets across chains.
What happens next for SOL on XRP Ledger
The immediate question is whether liquidity and user adoption deepen beyond the initial launch. XPMarket already lists an SOL/XRP market under the Axelar Bridge issuer, while Axelar’s broader Solana integration allows developers to build additional cross-chain applications between the two ecosystems.
No separate native SOL exists on the XRP Ledger. The traded asset is a cross-chain representation tied to Axelar infrastructure. Users should therefore treat claims that another issuer represents official SOL with caution unless Axelar or another authoritative source confirms a change. For now, Zangana’s warning remains clear: “Beware of fakes.”
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