The cryptocurrency market is a connected ecosystem, and interoperability fuels its development. Cardano, which has a market capitalization of $31.4 billion, and Ripple’s XRP, with a market capitalization of…
The cryptocurrency market is a connected ecosystem, and interoperability fuels its development. Cardano, which has a market capitalization of $31.4 billion, and Ripple’s XRP, with a market capitalization of $123 billion, could be planning to enter into a symbiotic relationship.
Cardano’s founder, Charles Hoskinson, has aroused discussions about adding XRP to Cardano’s privacy-focused Midnight sidechain.
Charles Hoskinson, the founder of Cardano, has hinted at the likelihood of partnering with Ripple. He suggested that the Midnight sidechain focused on privacy could include XRP in the project.
The discussion also covered Ripple’s RLUSD stablecoin as a potential addition to Cardano’s ecosystem.
“Dave Schwartz is a great guy. He’s a brilliant guy. It’s a lot of fun being in meetings with him, and I love to hang out with him,” Hoskinson stated.
Ripple’s resilience amid its legal battles with the U.S. The Securities and Exchange Commission (SEC) impressed Hoskinson.
The court case between Ripple and the SEC started in December 2020. Through XRP, the SEC alleged that Ripple sold securities without receiving prior approval.
In July of 2023, the federal court ruled that XRP is not a security when traded in public platforms, among other things. However, unfavorable penalties and appeal proceedings continue to exert regulatory pressure on Ripple.
In a recent live stream, Hoskinson even boasted about how well the company is run to deal with lawsuits, delistings, and regulation. Despite setbacks, Ripple remains a key player in the crypto space.
Hoskinson also discussed using XRP in Midnight. This sidechain is built to focus on privacy within decentralized applications. He also mentioned that Ripple’s RLUSD stablecoin could work in many ways for Cardano’s ecosystem.
The Cardano founder’s comments show a shift in his stance toward Ripple. He previously publicly apologized to the XRP community on November 10. Collaboration talks suggest Ripple and Cardano may align on privacy and smart contract innovations.
Ripple remains a top crypto player. XRP is the fourth-largest cryptocurrency, with a $31.4 billion market cap as of Dec. 27 (CoinMarketCap). Despite legal challenges, Ripple continues to push forward with new initiatives.
The discussions signal a potential alliance between Ripple and Cardano. This could create new opportunities in blockchain privacy and stablecoin integration if realized. Both sides remain in talks as they navigate the evolving crypto landscape.
