Solana is now available for trading on the XRP Ledger’s native decentralized exchange through a wrapped version of SOL issued by Axelar. The move strengthens the connection between the Solana and XRP Ledger ecosystems and gives users another way to access assets across different blockchains.
Axelar announced the launch on Aug. 14, with trading already available through platforms such as XPMarket. Users can trade the wrapped SOL asset against XRP and access it through several XRPL-based interfaces.
However, XRP Ledger Foundation director Hussein Zangana, better known in the community as Vet, has urged users to be careful. He warned that Axelar is currently the only legitimate issuer of wrapped SOL on the XRP Ledger and advised traders to watch out for fake versions that may appear on the network.
This warning is important because assets on the XRP Ledger are identified not only by their ticker symbol but also by the issuer’s account. In other words, multiple tokens can use the name “SOL,” but only the one issued by the correct account should be considered authentic.
Users can access the wrapped SOL asset through platforms including XPMarket, First Ledger, Magnetic, and Xaman’s swap feature. These services connect directly to the XRP Ledger’s built-in decentralized exchange rather than operating separate trading systems.
Blockchain records already show activity involving the wrapped SOL token and Axelar’s bridge account, confirming that trading has begun on the network.
The launch is part of a broader effort by Axelar to connect different blockchain ecosystems. Earlier this year, Axelar integrated Solana into its interoperability network, allowing assets and data to move between Solana and more than 70 supported blockchains, including XRP Ledger, Ethereum, Stellar, Sui, and Hedera.
The relationship between the two ecosystems has been growing in both directions. Recently, wrapped XRP became available on Solana, allowing XRP holders to use their assets within Solana-based wallets and decentralized finance applications.
While cross-chain technology creates new opportunities, it also introduces additional risks. Wrapped assets depend on bridge infrastructure, and the crypto industry has seen several major bridge-related security incidents over the years. Because of this, users are encouraged to verify issuer details before trading or adding trust lines to any asset.
For now, the asset available on the XRP Ledger is not native SOL. It is a wrapped representation of Solana’s token that operates through Axelar’s infrastructure. Anyone claiming to offer an official SOL token from a different issuer should be approached with caution unless confirmed by trusted sources.
The next step will be seeing whether trading activity and liquidity continue to grow. With Solana now accessible through XRPL’s decentralized exchange, developers and users have another bridge connecting two of the crypto industry’s most active blockchain ecosystems.
