Hoskinson endorses Ripple in contest for Circle, a subsidiary of Coinbase, as they vie for control.
In a recent YouTube video, Charles Hoskinson, founder of Cardano, weighed in on the reported multi-billion-dollar bidding war between Ripple and Coinbase for stablecoin issuer Circle. Hoskinson revealed ongoing discussions to bring Ripple's RLUSD stablecoin to Cardano's ecosystem.
Hoskinson expressed that such an acquisition would improve the crypto space, calling the Coinbase-a16z-Circle alliance a self-serving ecosystem. He argued that outsiders often face difficulties in listing, achieving liquidity, and integrating stablecoins. Hoskinson believed a potential deal between Ripple and Circle would challenge this alleged monopoly and foster diversity.
Initial reports hinted that Ripple and Coinbase were in competition to acquire Circle, with each party ready to commit billions to the deal. More recent rumors suggest Ripple may have an edge in the potential multi-billion-dollar settlement. However, it's essential to note that several weeks ago, Circle supposedly rejected a lower offer from Ripple.
The prospect of a collaboration between Cardano and Ripple around the integration of RLUSD has been circulating for some time. Cardano's team reached out to their counterparts at Ripple regarding the potential integration. While Hoskinson expressed his desire to integrate RLUSD into Cardano, no formal partnership agreements or deployment have been announced as of now.
Both Cardano and Ripple are exploring cross-chain capabilities to make interoperability between their networks smoother, paving the way for assets like RLUSD to operate within Cardano's ecosystem. This may enhance liquidity and DeFi options for users on both platforms. However, practical implementation details or timelines have not been disclosed publicly.
[1] The conversation between the two entities recognizes the value in collaboration, signaling openness and interest in leveraging the strengths of both platforms in decentralized finance. [5] No official announcements of a completed partnership or technical integration of RLUSD on Cardano have been made as of now.
- The potential collaboration between Cardano and Ripple, as suggested by Hoskinson's statements, could bolster the crypto space, as it represents an effort to challenge perceived monopolies and foster diversity in the digital finance business.
- Despite ongoing discussions about the integration of Ripple's RLUSD stablecoin into Cardano's ecosystem, no formal partnership agreements or deployment have been announced yet, indicating that such an event remains in the technology development stage.
