In spite of launching a Cardano version of Circle USD (USDC) going by the ticker USDCx on Midnight’s sidechain, Cardano’s founder sees more potential in XRP as a Web 2.5 product. Charles Hoskinson revealed this to the public in an X Spaces, saying the main advantage XRP has over USDT & USDC is the permission-less structure.
Cardano’s Founder Is More Keen On XRP For This Reason
To build on XRP Ledger, there’s no need for approval from the executive team – during the X Spaces discussion, Cardano’s (ADA) Charles Hoskinson expressed interest in building XRP-supporting infrastructure on Cardano’s Midnight sidechain. Released this year, Cardano’s Midnight just hit full mainnet mode last week, inviting privacy-focused developers.
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Charles Hoskinson specifically said “I think XRP as a Web2.5 product is better than Tether or Circle. I like it a lot more. I believe in open standards, open protocols, and open ecosystems.” He acknowledged Ripple team’s scrupulous work to build bridges between 300 traditional banks & payment providers.
Cardano’s Midnight uses Zero-Knowledge Proofs for what’s dubbed as ‘rational privacy’ – with transactions concealed, the consensus still submits with the regulatory framework in place. This puts Midnight chain in a different category than the top privacy go-tos like Monero (XMR) or Zcash (ZEC).
Finding The Balance Between DeFi, Privacy & Compliance
Meanwhile, the stark contrast with major stablecoin issuer is even bigger in the sense of decentralization. While Cardano (ADA) & Ripple’s XRP Ledger unifies a deep global network of node validators including retail businesses, universities & countries, stablecoin transfers via native networks can normally freeze funds & block crypto addresses just like any major bank would.
With USDC already taking up the majority of Cardano’s DeFi market capitalization, it’s clear that backing XRP with the right infrastructure would likely provide a substantial liquidity boost.
In the meantime, both Cardano’s Hoskinson & Ripple’s CEO Brad Garlinghouse are waiting on the results of the Clarity Act. The stablecoin-focused U.S. crypto bill nears a key early June voting.
On The Flipside
- Cardano founder’s current stance on XRP differs a lot from a few years ago, when there were notable feuds between ADA crypto community & the XRP Army.
Why This Matters
Both XRP Ledger & Cardano chains are massively focused on interoperability & compliance-first cross-border transactions. To realize this potential, Cardano’s Charles Hoskinson is planning to build XRP-native infra on Cardano’s Midnight sidechain.
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In a recent discussion, Hoskinson praised XRP, stating: “I think XRP as a Web2.5 product is better than Tether or Circle. I like it a lot more.” He was comparing it directly to the top stablecoins USDT (Tether) and USDC (Circle).
It’s Hoskinson’s way of describing XRP as a practical bridge between old-school finance (Web2) and full decentralized crypto (Web3). He sees it as a real-world usable tool that still keeps the open spirit of blockchain.
Hoskinson highlighted openness and freedom. With XRP Ledger, anyone can build and use it without asking Ripple for permission — it’s fully open-source. In contrast, centralized stablecoins like Tether and Circle can freeze wallets, blacklist addresses, or restrict access at any time.
Hoskinson has been one of the biggest critics of XRP in the past. Hearing him publicly back it over the world’s largest stablecoins is creating major buzz across both Cardano and XRP communities.
DailyCoin’s Vibe Check: Which way are you leaning towards after reading this article?
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