John Wingate, CEO of BankSocial and Hedera developer, recently sparked excitement in the XRP community after revealing that he had a meeting with Ripple’s team.
His post on X described the encounter as possibly “the greatest meeting in the history of international settlements.” This dramatic language hints at a game-changing collaboration potentially involving Ripple, Hedera, and BankSocial.
HBAR Remains Core, But XRP Enters the Picture
While reaffirming that Hedera and its native token HBAR remain a major part of BankSocial’s strategy, Wingate confirmed a new addition: XRP.
This may mark an evolution in BankSocial’s roadmap. Specifically, it suggests an effort to leverage HBAR’s enterprise-grade speed and XRP’s liquidity and cross-border settlement capabilities.
In response to a commenter who asked how Ripple, Hedera, and BankSocial fit together, Wingate broke it down:
- HBAR is for backend operations, state checks, and application networks via Hedera Consensus Service (HCS).
- XRP facilitates international money movement, especially into specific jurisdictions.
- BSL, BankSocial’s native token, powers lending, staking, and decentralized governance within the DAO.
According to Wingate, these projects jointly create “a new financial paradigm.”
This layered integration suggests an ambitious approach to decentralized finance, one where each token plays a specialized role in building next-generation global financial infrastructure.
No because uncle Joe knows. 😉$HBAR for backend ops – state checks – app nets (HCS)$XRP for international money movement into certain jurisdictions.$BSL – for loans/lending/staking and social governance around the DAO.
Together they create a new financial paradigm.
— John Wingate (@PresidentHODL) May 24, 2025
The Billion-X Vision for XRP
Wingate closed his original post with a challenge: “You’re not thinking BIG enough. Think BIG, then 1,000,000,000x it.”
This implies a vision of monumental scale, a cross-chain financial infrastructure uniting banks, blockchains, and global jurisdictions.
While no formal partnership between Ripple and BankSocial has been announced, Wingate’s tweet suggests that XRP is becoming a key part of a strategy previously centered around Hedera.
This aligns with a May 19 post on X in which BankSocial replied, “Multichain. XRP too,” to a tweet promoting their upcoming platform, which will allow users to buy crypto and stocks directly from their bank and credit union accounts.
The platform, built on Hedera, now appears to expand its blockchain support to include the XRP Ledger.
Past Hints at Dual-Chain Strategy
Meanwhile, this isn’t the first time Wingate has suggested a multichain approach. In a March tweet, he shared that BankSocial works with financial institutions and governments worldwide on real-world asset tokenization and money movement. Specifically, he noted that both XRP and HBAR are “major components” of the strategy.
Wingate emphasized each asset’s unique strengths and noted that XRP and HBAR are members of the DeRec Alliance. This reinforces a shared commitment to decentralized infrastructure.
@hedera and @Ripple, we are working with Fi’s and governments worldwide to do things around #RWA tokenization and money movement.
BOTH $XRP and $HBAR are major components of what we are doing. They both have their strengths.
They are both on the @DeRecAlliance
You ready?! pic.twitter.com/qEH818GLc7
— John Wingate (@PresidentHODL) March 19, 2025
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