Yigit Taha OZTURK 
Cryptocurrency security analyst and Paradigm advisor ZachXBT stated that stablecoins issued by major issuers are one of the most important metrics in determining the legitimacy of a blockchain network. He argued that the presence of large stablecoin issuers like Circle, Tether, and Paxos in the ecosystem signals the adoption rate and usage potential of that network.
These statements came after the announcement that U.S. President Donald Trump plans to include digital assets like Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Solana (SOL), and Cardano (ADA) in the country’s strategic cryptocurrency reserves.
ZachXBT highlighted the absence of stablecoins issued by Circle, Tether, and Paxos in major networks like Cardano and the XRP Ledger. According to him, if these issuers saw a “valuable opportunity” in those networks, they would have integrated their stablecoins into them.
Response from Cardano Foundation
Cardano Foundation CEO Frederik Gregaard stated that stablecoin integration is not the only factor determining a blockchain’s legitimacy. Gregaard emphasized that true legitimacy should rely on factors such as security, decentralization, sustainability, development activities, real-world usage, and community involvement.
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Gregaard noted that Cardano’s long-term goal is to build infrastructure capable of supporting global financial systems. He highlighted that the network is built on technical excellence, security, and scalability. However, he also mentioned that as Cardano’s adoption increases, he expects greater interest from major stablecoin issuers.
Gregaard also pointed out that despite stablecoins like Tether (USDT) and USD Coin (USDC) not being directly issued on Cardano, they can still be used within the ecosystem through the Wanchain Bridge.
Stablecoin Developments on XRP Ledger and Cardano
Although major stablecoin issuers are not directly present on the XRP Ledger and Cardano, both networks have seen stablecoin projects.
The RLUSD stablecoin, developed on the XRP Ledger, started trading on exchanges like Uphold, MoonPay, Archax, and CoinMENA after receiving approval from the New York Department of Financial Services on December 17, 2024. Ripple President Monica Long announced that RLUSD would soon be listed on more exchanges.
On the other hand, in the Cardano ecosystem, the ADA-backed and Shen (SHEN)-collateralized Djed (DJED) stablecoin was launched in 2022. According to CoinGecko data, DJED‘s market capitalization is at 4 million dollars. In 2024, Cardano integrated the fiat-backed USDM stablecoin. The USDM launch on March 18 is seen as a significant step by the community.
These developments show that, although major stablecoin issuers have not yet turned to these networks, stablecoins play an important role in the XRP Ledger and Cardano ecosystems.
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