Ripple CTO David Schwartz has affirmed that Ripple developed a financial system around the XRP Ledger (XRPL), XRP, and its recently introduced RLUSD stablecoin.
This revelation came during the recent XRP Las Vegas event. It emerged from an exchange between Schwartz and crypto reporter Vincent Scott, who presented a framework describing Ripple’s ecosystem as a self-contained financial architecture. Schwartz agreed that this framework aligned with Ripple’s direction.
A System Built on Three Pillars
Notably, Scott’s framework centers on three core components: RLUSD functioning as the unit of account, XRP as the medium of exchange or “gas,” and XRPL as the decentralized payment infrastructure.
Schwartz confirmed that these elements could indeed could collectively translate to a financial system. “Yes, you can consider those things a financial system,” he said.
Essentially, Ripple’s infrastructure facilitates cross-border payments and now could deliver broader financial services traditionally offered by banks and fintech institutions.
In follow-up commentary, Schwartz outlined Ripple’s goal of enabling services such as payments, investments, and loans through this evolving infrastructure. Including RLUSD suggests that Ripple is working toward a stable, scalable foundation for everyday transactions and settlement.
I did say that you could consider the XRPL together with other things Ripple has built to be a financial system. I hope over the next few years it can provide a significant fraction of the financial services that people need every day from payments to investments to loans.
— David 'JoelKatz' Schwartz (@JoelKatz) June 4, 2025
Despite the significance of this moment, the news initially flew under the radar. Scott expressed frustration that the acknowledgment hadn’t gained wider attention, as he had initially provided no solid evidence beyond his own account, which led to skepticism about his report.
He made a public appeal for Ripple’s CTO to confirm the interaction, which he eventually did with clarification and support.
XRP Holds a Unique Role, but XRPL Is Broader Than Ever
Amid the discussions, community member Ricky Tan raised a key point. He asked whether the focus is shifting from XRP alone to the broader range of assets on the XRP Ledger.
In response, Ripple’s CTO clarified that XRP holds a special position on XRPL, but the ecosystem itself is expanding rapidly.
Ripple CTO Says, $XRP has a special role on XRPL But XRPL is more than just XRP.
Here's a very simple explanation of each point made by Ripple CTO, broken down clearly.
1. XRPL is more than just XRP
The XRP Ledger (XRPL) is not just for XRP.
It supports stablecoins, will soon… pic.twitter.com/ssjjvnm44V
— TheCryptoBasic (@thecryptobasic) June 4, 2025
Schwartz emphasized that XRPL supports more than just XRP. It includes stablecoins and tokenized real-world assets and will eventually support various types of loans.
Meanwhile, he stressed that XRP holds a unique position within the XRPL ecosystem as the only asset that every account can receive, the only one without a counterparty, and the first asset that pathfinding algorithms consider for liquidity.
Autobridging mechanisms also favor XRP, making trades involving it more likely to be completed. Additionally, it is the sole asset for paying transaction fees.
According to Schwartz, the key question is how much value the XRPL can generate, and how much of that value could translate into XRP’s market value. He noted that this is a difficult thing to quantify. For example, it’s unclear how much of XRP’s current value is directly tied to utility and activity on the XRPL.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
