Cardano founder Charles Hoskinson has offered rare praise for XRP, describing it as a stronger “Web2.5 product” than centralized stablecoin issuers like Tether and Circle. During a public discussion, Hoskinson said, “I think XRP as a Web2.5 product is better than Tether or Circle. I like it a lot more.”
He framed the comparison around open protocols, stating, “I believe in open standards, open protocols, and open ecosystems.” Hoskinson argued that the XRP Ledger remains permissionless, allowing developers to build without Ripple’s approval, whereas stablecoin firms can freeze wallets and blacklist addresses. This, he suggested, makes XRP more aligned with blockchain’s founding principles.
The comments come as the stablecoin market has grown significantly, with a total market capitalization exceeding $322 billion in May 2026 and adjusted transaction volumes reaching nearly $11.45 trillion in the previous year. Regulation is also a hot topic: U.S. lawmakers are debating stablecoin oversight, including reserve requirements and the CLARITY Act’s reward provisions, which has created friction between crypto firms and banking groups.
Background tensions: Hoskinson’s praise marks a notable shift. He has long clashed with parts of the XRP community over “ETHgate” theories and has criticized Ripple CEO Brad Garlinghouse’s regulatory stances. The new remarks arrive alongside Cardano’s own governance review, where Hoskinson is analyzing over 11,000 DAOs following a treasury dispute that saw 81% of active stake oppose a 32.9 million ADA funding.
