TL;DR
- Charles Hoskinson seeks to integrate RLUSD, Ripple’s stablecoin, into Midnight, Cardano’s privacy sidechain, following years of tensions with Ripple.
- RLUSD would bring financial stability to Midnight, which already uses the tokens NIGHT (transactions) and DUST (governance and staking).
- Tools like Marlowe could facilitate the expansion of RLUSD and XRP, strengthening interoperability between both blockchains..
Charles Hoskinson, founder of Cardano, has announced his interest in integrating RLUSD, Ripple’s stablecoin, into his network. This decision follows a reconciliation between Hoskinson and Ripple, marking a significant change after years of tensions between the two parties. In a recent interview with the YouTube channel Big Pey, the Cardano leader revealed that he has already started discussions with XRP executives Brad Garlinghouse and David Schwartz to explore this new collaboration.
RLUSD, which is still under development, was initially designed to launch on Ripple’s XRP Ledger and Ethereum networks after approval from the New York Department of Financial Services. However, Hoskinson sees Midnight, Cardano’s privacy-focused sidechain, as a potential destination for the stablecoin.
Midnight operates under a dual-token model that includes NIGHT for transactions and DUST for governance and staking. The inclusion of RLUSD in this ecosystem would not only bring financial stability but also enhance its functionality, solidifying Midnight as an attractive space for developers and users alike.
What Can We Expect from Ripple and Cardano’s Collaboration?
Hoskinson emphasized that tools like Marlowe, Cardano’s smart contract creation toolkit, could play a crucial role in this integration. According to him, these tools could offer significant benefits to both RLUSD and Ripple’s ecosystem, facilitating their expansion and diversification of use cases.
The interest in RLUSD is noteworthy not only because of the technical potential of the collaboration but also because it signifies a reconciliation within the industry. For years, Hoskinson had maintained a critical stance toward XRP and its community, even describing XRP supporters as “trolls.” However, in an unexpected turn, he recently issued a public apology, acknowledging that internal conflicts hinder the industry’s development.
This announcement appears to be strategic in nature, aiming to overcome divisions and promote interoperability between blockchains. Hoskinson highlighted the importance of uniting efforts to strengthen the market and elevate it to unprecedented levels
