The recent rollout of USDC on the XRP Ledger has sparked lively discussions among digital payments enthusiasts. XRP supporters see it as a way to enhance liquidity, while Stellar representatives argue it lacks substance.
Comparing Metrics and Adoption
The account StellarExpert on the platform X (formerly Twitter) published detailed analyses comparing USDC integration on XRP to existing Stellar infrastructure. It claims that Stellar has supported USDC since 2021, maintaining over 1.5 million trustlines and thousands of active wallets. In contrast, the RLUSD token on XRP has yet to cross 50,000 trustlines, indicating low transaction velocity and limited usage.
Comparing Ecosystems and Features
In the thread, StellarExpert lists tools available on the Stellar network, including Soroban smart contracts and tokenized asset support from asset management firms like WisdomTree and Franklin Templeton. The analysis also highlights Stellar's active application in humanitarian corridors, collaborating with organizations like UNHCR. Conversely, the integration of USDC on XRP is seen as a reactive measure following the underwhelming results from the RLUSD launch.
Framing the Broader Message
The final post in the thread concludes that 'USDC on XRP is just a narrative. USDC on Stellar is infrastructure.' It encourages evaluating blockchain viability through metrics, wallet adoption, and platform integrations. The expert calls for a focus on actual usage and trustlines.
The discussion regarding the USDC rollout on the XRP Ledger should be approached with caution, emphasizing real usage metrics and comparisons to Stellar's established infrastructure.
