Why Cardano (ADA) and XRP Failed to Attract Major Stablecoin Issuers

The world of cryptocurrency is abuzz since blockchain sleuth ZachXBT questioned the validity of Cardano (ADA) and XRP

The world of cryptocurrency is abuzz since blockchain sleuth ZachXBT questioned the validity of Cardano (ADA) and XRP based on their failure to have major stablecoin issuers.

Also, former President Donald Trump’s national crypto strategic reserve proposal has brought a new layer to the conversation.

What Is Being Said About Stablecoins and Major Blockchains?

While discussing the varying success of blockchains, heating up the competition between Ethereum and Solana, one user asked what had been preventing Cardano from being able to ``get USDC or USDT on-chain yet.''

To which, ZachXBT claimed that it's because no one wants to go on-chain with ADA, adding that if they were good enough, then Paxos, Circle, or Tether would already be operating on it.

He went on to say that if they had been around for this long and yet no one had gone on-chain with either ADA or XRP, then it's a testament to how good or bad they are.

However, some noted that Bitcoin, which is a leading cryptocurrency, also doesn't have any stablecoin issuers from large providers but still manages to hold the top market position.

One user claimed that this was a "huge point" and that it was "no surprise that institutions aren't interested in anything other than ETH and SOL yet."

A Final Thought

The intersection of these discussions highlights the ongoing debate about crypto legitimacy and mainstream adoption.

Some believe that blockchain networks will only really begin to truly thrive when they have the backing of institutions and regulators.

However, others argue that decentralization and user adoption are more crucial to the success of cryptocurrencies.

As industry discussions continue to center around ADA, XRP, and Trump’s crypto reserve initiative, the broader question of what exactly constitutes legitimacy in the crypto world remains open to interpretation.