Ripple CTO Finally Speaks: Inside the Game-Changing Stablecoin Plan & XRP’s Next Big Move

Ripple's chief technology officer shatters the silence—dropping bombshell details on their stablecoin ambitions and XRP's evolution. Here's why the market's buzzing.

The Stablecoin Play: Ripple's Not-So-Secret Weapon

Forget 'pegged assets'—Ripple's CTO just framed their stablecoin as a liquidity nuke for cross-border payments. No vague timelines, just a thinly veiled shot at SWIFT's 1970s infrastructure.

XRP's Second Act: More Than Just a Bridge Asset?

The 'digital asset for banks' might finally get its moment. With regulatory clarity (shocking, we know) and institutional adoption creeping up, XRP's utility could explode—or become a cautionary tale about betting on legacy finance's speed.

One thing's clear: Ripple's done talking. Now watch the market react—probably after hedge funds finish front-running the announcement.

TLDR

• Ripple CTO David Schwartz clarified that Ripple did not conduct an initial coin offering for XRP.
• Schwartz emphasized that XRP’s price was initially zero, and all 100 billion tokens were allocated to the Genesis ledger.
• Ripple’s XRP Ledger operates with over 1,000 nodes and 100 validators, ensuring decentralization.
• Schwartz refuted claims that Ripple relies on Ethereum for stablecoin issuance, confirming RLUSD is issued on the XRP Ledger.
• Ripple CTO addressed concerns about the XRP Ledger’s centralization, highlighting its open-source nature and decentralized structure.

Ripple CTO, David Schwartz, has addressed recent criticisms made by Caitlin Long, CEO of Custodia Bank, regarding Ripple and its XRP Ledger. Long’s comments, made in a podcast, raised questions about Ripple’s early token launch and its current standing in the cryptocurrency space. Schwartz responded directly to Long, inviting further discussion on the matter. His statements aim to clarify several misconceptions, particularly regarding the company’s initial coin offering (ICO) and the XRP Ledger’s development.

Ripple’s Launch and the Absence of an ICO

David Schwartz clarified Ripple’s launch process, specifically refuting Caitlin Long’s claim that Ripple conducted an ICO. He explained that XRP’s price was initially zero when the network was created. The entire supply of 100 billion tokens was allocated to the Genesis ledger account at launch. “Ripple did not conduct an ICO,” Schwartz confirmed, emphasizing that this key point directly contradicts Long’s claims.

@CaitlinLong_, I’m available whenever you want to chat about the facts about Ripple, our stablecoin RLUSD, the XRP Ledger and its native token XRP. @Vet_X0 started with some basic ones above ^

— David 'JoelKatz' Schwartz (@JoelKatz) August 6, 2025

Moreover, Schwartz referenced the response from a prominent XRP Ledger validator, @Vet_XO, who reinforced the fact that Ripple did not raise capital through an ICO. Vet explained that Ripple’s launch process was more transparent compared to Ethereum’s ICO, where Bitcoin was used to distribute ETH. According to Vet, Ripple’s process was more straightforward and without the typical ICO capital-raising mechanisms.

She has no clue what she is talking about, but she talks with such confidence about it.

1) Ripple never did an ICO. XRP was worth nothing when the XRP Ledger started and all 100B put into the genesis account.

2) The XRP Ledger is decentralized. Either it's ignorance or lack of… https://t.co/yQNtGe81XL

— VET (@Vet_X0) August 6, 2025

Ripple CTO Defends XRP Ledger’s Decentralization

Ripple CTO also took the opportunity to address the recurring claims of centralization surrounding the XRP Ledger. Schwartz referenced @Vet_XO’s arguments that the network is neither controlled by Ripple nor centralized.

“Anyone can join the network, run a validator, or fork the codebase,” Vet said, reinforcing the decentralized nature of the XRP Ledger.

The XRP Ledger currently operates with over 1,000 nodes and more than 100 validators. These validators are operated by a variety of individuals and businesses, none of whom are under Ripple’s control. This refutes Long’s suggestion that Ripple has central control over the XRP Ledger, highlighting that it is indeed a decentralized network.

Ripple’s Stablecoin and the Role of Ethereum

In response to Caitlin Long’s comments on Ripple’s stablecoin issuance on Ethereum, Schwartz clarified that Ripple’s U.S. dollar-pegged stablecoin, RLUSD, is issued natively on the XRP Ledger. He pointed out that Ripple Payments continues to operate on XRP Ledger infrastructure, not just on Ethereum. Schwartz’s statement directly challenged Long’s claim that Ripple was relying on ethereum for its stablecoin efforts.

Vet further confirmed that Ethereum’s ICO process was distinct from Ripple’s, noting that bitcoin was used to distribute ETH to early backers. The XRP Ledger, he stated, supports Ripple’s infrastructure more integratedly. Schwartz emphasized that Ripple remains committed to the XRP Ledger as the foundation for its financial products, including stablecoins.

Through these clarifications, Ripple CTO David Schwartz aims to set the record straight, challenging Long’s criticisms and reaffirming the company’s commitment to decentralization and its blockchain network.