Stablecoins Can’t Replace XRP. Jake Claver, recorded November 2025.
More on this subject: jakeclaver.com.
What this recording covers
Addressing whether private stablecoins could eliminate the need for a neutral bridge asset, Claver explains the structural inefficiencies of multi-currency bank settlement. He points out that if individual commercial banks issue proprietary stablecoins, counterparties would need to hold multiple competing tokens to settle transactions. This arrangement recreates traditional nostro and vostro account models, locking up substantial capital across correspondent banking relationships. Instead, Claver argues that an independent intermediary asset allows institutions to convert between different stablecoins without holding competitor-issued assets. He also compares the transaction costs and settlement latency of dedicated payment networks against general-purpose smart contract networks. In his view, software upgrades on older networks have struggled to reduce operational fees and settlement delays, making specialized bridging networks more practical for institutional liquidity transfer.
Where this fits
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