# Cross-asset Articoli collegati

Evernorth Says RLUSD Is Not An XRP Killer: Here’s Why

Evernorth's Chief Business Officer Sagar Shah argues that Ripple's new stablecoin RLUSD is not a replacement for XRP, as they serve fundamentally different purposes in on-chain finance. RLUSD is designed as a high-quality digital dollar, functioning as a specific asset leg in transactions. In contrast, XRP acts as a neutral "routing" or "bridge" asset on the XRP Ledger, facilitating trades between diverse tokenized assets (like treasury bills and euro stablecoins) without requiring direct matching counterparties. Shah outlines three key reasons why RLUSD cannot replace XRP's role: 1) **Issuer Risk**: RLUSD, like all stablecoins, carries the risk of its issuing entity facing regulatory or operational problems, making it unsuitable as a mandatory routing asset for all trades. 2) **Neutrality**: Stablecoins must comply with sanctions and restrictions, whereas XRP's censorship-resistant design allows it to serve as a global, permissionless router. 3) **Market Structure**: Efficient liquidity requires a common bridge asset to connect hundreds of tokenized assets, a role for which XRP's liquidity, protocol integration, and lack of issuer make it uniquely suited. The conclusion is that the growth of on-chain finance requires both a reliable digital dollar (RLUSD) and a neutral routing asset (XRP), with both functions being complementary rather than competitive.

bitcoinist05/21 15:32