@Ripple CTO Emeritus @JoelKatz on where XRP is headed:
"Tokenized securities. Money market funds. Stocks. Repos. Loans."
Enterprise adoption is already here. Mass retail is next.
XRP in a Minute ⬇️ https://t.co/DljGy2Hp9S
Something happened in the last 5 days. Nobody’s connected the sequence yet, at least that I’ve seen.
Let me lay it out.
May 19 — Trump signs EO directing the Fed to open its payment infrastructure to crypto and fintech firms. Frames it as a national competitiveness issue. 90 days to rule on completed applications. Transparent procedures. No more waiting in silence.
May 20 — The Fed opens a 60-day public comment period on “skinny” accounts. Limited Fed rail access for eligible non-bank institutions. Direct settlement. No intermediary banks.
Then they close the line.
Tier 3 applications: the category every crypto-native firm falls into — has been put on PAUSE.
⏰ No new applicants considered until the framework finalizes in Dec. 2026 ⏰
3 firms made it before the door shut:
Ripple
Anchorage Digital
Wise
That’s it.
The line is three deep.
what separates them?
Wise: money transfer company. No OCC charter. No stablecoin. No Fed-facing reserve structure. Consumer remittances done efficiently. That’s the ceiling of their story.
Anchorage: the oldest federally chartered crypto bank in America. OCC approved since 2021.
Now the issuance engine behind Tether’s USAT stablecoin, with 20 institutions queued to issue through them. Excellent infrastructure. But here’s what they don’t have: an active cross-border payment network. No live ODL-equivalent corridors. No bridge moving volume between markets that lack native liquidity. They issue and custody. They don’t move and settle at scale across borders.
@beyond_broke
Ripple: OCC conditional approval. NYDFS regulated. $RLUSD fully backed 1:1, audited, GENIUS-compliant before the bill even passed. And the piece nobody else in that line has: a live, global payment network w/ real ODL corridors already moving cross-border volume. And XRP as the bridge asset settling between them in seconds.
Issuance + custody is table stakes now.
The differentiator at the Fed rail level is who can actually move and settle value across borders at institutional scale.
Only one firm in that line of three does that today.
Now, the full sequence:
March 2026 — Kraken becomes the first crypto-native institution to receive a Fed master account. Applied in 2020.
Approved by the Kansas City Fed in 2026.
Five years.
Proved it was possible. Set the precedent. But Kraken is an exchange. Not a payment network. Not a stablecoin issuer. Not a bridge asset.
May 19 — Trump EO tells the Fed: decide on completed applications within 90 days.
May 20 — Fed opens comment period. Closes the line. Three firms inside.
This isn’t a payments story.
It’s a treasury story.
Payments move money.
Yield attracts money.
But a FM account determines whose balance sheet becomes the gravity…whose ledger other institutions have to touch to settle.
How do you think correspondent banking hierarchies formed?
The banks with Fed access became the rails. Everyone else became a customer of those rails.
The dollar isn’t the global reserve currency because people trust America. It’s the reserve currency because the plumbing routes through American institutions. $SWIFT. Correspondent banks. Fed master accounts.
These aren’t features of $USD dominance. They’re the mechanism of it.
Those pipes are being challenged. BRICS corridors. CBDCs. Dollar system fragmentation.
The U.S. isn’t defending the old pipes. It’s building new ones. Faster. Cheaper.
Dollar-denominated.
On American-designed rails.
#RLUSD reserves sitting directly at the U.S. central bank. ODL corridors settling cross-border payments in seconds. XRP as the bridge asset between every corridor that lacks native liquidity.
The U.S. doesn’t need the world to use old dollars.
It needs the world to keep settling through American infrastructure.
Ripple National Trust Bank.
Fed master account.
GENIUS-compliant stablecoin. XRP as the liquidity layer.
That is American infrastructure.
rebuilt for the next 50 years.
3 firms in line. One door.
Closed: May 20, 2026
cool
Unitree CEO Wang Xingxing and his robotics army of G1s.
These are designed for mass production at a starting price of roughly US$16,000.
This is just a beginning of an exponential era!