$XRP Ledger Transforms into Stablecoin Network, Says Charles Schwab Exec

Charles Schwab's Head of Crypto Research, Jim Ferraioli, believes that the $XRP Ledger (XRPL) is transforming from a payments-focused blockchain into a network for stablecoin transactions. Speaking on the Thinking Crypto podcast with host Tony Edward, Ferraioli pointed to different blockchain networks specializing in distinct use cases as the crypto industry consolidates.

According to Ferraioli, Ethereum remains the dominant general-purpose smart-contract blockchain for tokenized real-world assets. Solana aligns more with active trading due to its high transaction throughput. Tron is seen as a 'pure play' stablecoin network. Meanwhile, he stated that $XRP Ledger 'is making the shift from kind of a payments network to more of a stablecoin transaction network.'

Ferraioli's comments highlight how institutional observers view XRPL's evolving utility as stablecoins and tokenized assets become more prominent across financial markets.

Recent data on the $RLUSD supply also support the shift. In June, XRPL's $RLUSD supply reached approximately $801.8 million, surpassing Ethereum's roughly $793.1 million. This change follows stronger issuance activity on XRPL, with millions of $RLUSD minted on the network while Ethereum recorded larger redemption activity.