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Charles Hoskinson called XRP a better “Web2.5 product” than major stablecoins like USDT and USDC.
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Hoskinson praised XRP Ledger’s open ecosystem, saying developers can build without needing permission from Ripple.
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Global stablecoin supply has now crossed $319 billion as competition around digital payments intensifies.
One of the biggest XRP critics, Cardano Founder Charles Hoskinson, has surprised many by praising XRP, calling it a better “Web2.5 product” than stablecoin giants USDT and USDC.
Hoskinson said XRP stands out because the XRP Ledger remains open and permissionless, allowing developers and businesses to build freely without needing approval from Ripple.
Why Did Hoskinson Compare XRP to Tether and Circle?
Hoskinson argued that XRP sits in a unique position between traditional finance and decentralized blockchain systems.
His main argument focused on openness. He says that anyone can build on the XRP Ledger without needing direct approval from Ripple, unlike centralized stablecoin systems that remain tightly controlled by private companies.
That comparison directly targeted Tether and Circle, whose platforms can freeze wallets, blacklist addresses, and restrict access when needed. Both companies also have the ability to freeze funds and blacklist addresses when required.
For Hoskinson, that difference matters as crypto increasingly moves toward global payments, tokenization, and digital banking.
Why Stablecoins Are Becoming a Bigger Crypto Battle
Hoskinson’s comments come at a time when stablecoins are becoming one of the biggest sectors in crypto.
According to Defilama, the total market cap of fiat-backed stablecoins reportedly crossed $322 billion in May 2026, while adjusted stablecoin transaction volume reached nearly $11.45 trillion last year.
At the same time, stablecoin regulation is becoming a major political issue in Washington as lawmakers debate new crypto legislation tied to payment systems and banking rules.
