# stablecoins — X 热门讨论 (2026-09-13 19:17 UTC)
## @Xfinancebull (X Finance Bull) · 09-13 18:01 · ♥59 ↻8 💬12 OHH BOY! 🚨🚨🚨 $XRP holders, guess which major company with liquidity all over the world asked Ripple for help?
Brad Garlinghouse never named the company in the SALT interview.
But when I line up his exact words with the companies already sitting inside Ripple Treasury, one name fits the problem almost word for word:
CEVA Logistics.
And once you understand why CEVA matters, the entire GTreasury acquisition starts looking completely different.
Brad said CFOs and treasurers are coming to Ripple with money spread around the world.
Some of it is sitting dormant.
Some of it is not earning yield.
They want to know how stablecoins and onchain markets can help them move that money faster and make it productive.
Now look at CEVA.
CEVA had around 1,100 bank accounts worldwide.
Ripple Treasury’s own case study says the company gained visibility across more than 40 internal entities and identified roughly:
$100 MILLION of idle cash.
That money could then be centralized and used for working capital.
Read Brad’s words again.
Liquidity all over the world.
CEVA had 1,100 global bank accounts.
Dormant liquidity.
CEVA identified $100M sitting idle.
Unlock trapped capital.
CEVA already used the treasury platform Ripple now owns to do exactly that.
That is why CEVA Logistics is my strongest evidence-based candidate.
Not because Ripple confirmed CEVA was the exact company Brad was talking about.
Brad did not name anyone.
But CEVA proves something more important:
the exact problem Brad described is already sitting inside Ripple Treasury’s customer base at serious scale.
And Ripple can now offer CEVA far more than GTreasury originally could.
The old treasury job was:
find the money,
see the money,
centralize the money,
use the money somewhere else.
Ripple is adding another layer:
keep that money moving and productive around the clock.
When Ripple bought GTreasury for $1 billion, Brad already described the opportunity using almost the same language.
He said Ripple wanted to help treasury teams put trapped capital to work.
GTreasury gave Ripple access to more than 1,000 corporate customers across 160 countries.
That is why I think people underestimate what Ripple actually bought.
It did not simply buy treasury software.
It bought access to the people who decide what happens to corporate cash.
The Office of the CFO.
The treasury department.
The teams deciding:
where cash sits,
which subsidiary needs liquidity,
which balances can be invested,
how FX is managed,
how payments move,
how much money needs to remain pre-funded,
where collateral is held,
and how much capital is simply waiting.
That is one of the hardest enterprise audiences for any crypto company to reach.
Ripple effectively bought the door.
Then Ripple started changing what could happen behind that door.
In April 2026, Ripple launched native Digital Asset Accounts inside Ripple Treasury.
Now corporate finance teams can see traditional cash and digital liquidity through the same treasury environment instead of treating blockchain as an isolated system.
Even more important:
Ripple said multiple existing customers were already beta-testing the digital-asset capabilities before public launch.
That line deserves far more attention.
Somewhere inside Ripple Treasury’s existing corporate customer base, companies had already moved past:
“What is a stablecoin?”
They reached:
“Give us access. We want to test this.”
Then Brad goes to SALT and says that over roughly the last six months, CFOs and treasurers have increasingly started approaching him with exactly these liquidity questions.
That timing is hard for me to ignore.
And Ripple’s own 2026 survey says 74% of finance leaders believe stablecoins can improve cash-flow efficiency and unlock trapped working capital.
That is the demand side.
Now look at the customer side.
CEVA is only the beginning.
American Airlines is another name I cannot ignore.
American operates across more than 60 countries.
Ripple Treasury says it increased American’s global cash visibility from roughly:
65% to 99%.
Think about what that means for a treasury team.
At 65% visibility, the problem is:
Where is our money?
At 99%, the problem changes.
Now you can ask:
Which entities are overfunded?
Which balances are actually necessary?
Which accounts could earn more?
Which cash is sitting locally because moving it is slow?
Which buffers only exist because banking infrastructure cannot move at the speed the company wants?
That is exactly where Ripple’s new digital layer becomes interesting.
American already uses Ripple Treasury across:
cash,
investments,
debt,
collateral,
FX,
and other treasury functions.
Ripple does not need to walk into American Airlines and convince the company to replace its treasury operation.
It already sits inside the workflow.
The next conversation can simply become:
You already use this system to manage almost all of your global cash.
Now here is RLUSD.
Here is digital settlement.
Here are tokenized liquidity products.
Here is 24/7 movement.
Here are new ways of making surplus cash productive.
That is a much easier adoption path.
Then there is Subway.
Nearly 37,000 restaurants across around 100 countries.
Historically around:
450 bank accounts across 70 banks.
That is a treasury maze.
Franchise flows.
Royalty payments.
Advertising fees.
Regional entities.
Suppliers.
Different currencies.
Different jurisdictions.
Ripple Treasury helped consolidate that structure and pushed cash visibility to roughly 98%, with around 90% of payments automated.
But one comment from Subway’s own treasury leadership matters more to me than those numbers.
They said Subway kept expanding use of the platform as more capabilities became available.
Now ask what major capability Ripple just added.
Digital assets.
XRP.
RLUSD.
Digital liquidity.
Tokenized investment products.
24/7 settlement.
Subway does not need to announce:
“We are becoming a crypto company.”
That would completely miss the point.
If digital dollars improve intercompany movement or global franchise settlement, the treasury team has a reason to use them.
If tokenized products let excess cash remain productive for longer, the treasury team has a reason to use them.
If XRP offers useful bridge liquidity between currencies inside a transaction, the software can use XRP.
That is how adoption gets real.
It becomes boring.
It becomes treasury.
And boring is bullish because boring means the technology became useful enough that nobody needs to call it crypto anymore.
Then we have The Adecco Group.
Adecco has approximately 280 entities across 60 countries.
Its intercompany operation touches around 20 currencies.
Ripple Treasury already saves Adecco roughly $100,000 per month through netting and reduced FX and bank costs.
This is one of my favorite examples because it proves treasury efficiency is measurable.
Nobody needs a token narrative.
Adecco can look at the monthly number and see the benefit.
Now imagine digital settlement being added after the netting process.
Today:
hundreds of entities owe each other money.
Treasury calculates the final obligation.
Then settlement still has to move through conventional banking infrastructure.
Different banks.
Different cutoffs.
Different FX windows.
Potential correspondent chains.
Now imagine:
net the obligations,
determine the final amount,
settle through digital liquidity,
operate beyond normal banking hours,
compress the time the company is exposed to settlement friction.
That is a real stablecoin use case.
Not theory.
A corporate financial problem with an obvious digital solution.
Then SSP Group.
SSP operates across 35 countries.
Its treasury team has openly described using Ripple Treasury to identify which entities are holding too much cash and determine where that liquidity should be centralized.
Put that beside Brad’s quote.
He says companies have money scattered globally.
SSP says some subsidiaries are holding excess cash.
Brad says corporations want that capital unlocked.
SSP’s treasury system is already finding the exact excess balances that need to be centralized.
This is why I think Brad’s “sea change” comment is much bigger than:
“Corporations are interested in stablecoins.”
What he is really saying is:
corporate treasury has found a problem blockchain can solve.
That is a much stronger adoption signal.
Then there is Volvo.
Volvo is the name I would watch hardest for the transition from traditional treasury into blockchain-based corporate money.
The company already sits inside the Ripple Treasury ecosystem.
But the bigger clue came through Ivan Branco, Head of Information Management, AI and Analytics at Volvo Group.
In an interview highlighted by the Cardano Foundation, Volvo discussed its internal exploration of an enclosed blockchain environment and proprietary cryptocurrency for transactions involving Volvo, material suppliers and transport suppliers.
That is huge because it tells us Volvo has already thought about digital money in the context of a real business problem.
Supplier settlement.
Now imagine what Volvo sees today.
It explored creating digital money itself.
Then the treasury system it already uses becomes owned by Ripple.
Ripple adds:
RLUSD
XRP
digital-asset accounts,
stablecoin settlement,
24/7 liquidity,
tokenized markets,
and institutional financial infrastructure.
The question becomes:
Why build all of this ourselves if part of it can increasingly exist inside the treasury system we already know?
That is why Volvo remains one of my highest-conviction names to watch.
But the story gets much bigger when you add the banks.
Because corporate money does not move without institutional banking infrastructure.
That is where:
BNY Mellon
JPMorgan
Bank of America
and
Citi
enter the picture.
These banks are not the same type of participant as CEVA or Subway.
CEVA asks:
How do I unlock my global cash?
A major bank asks:
How do I provide the rails through which that cash can move safely?
Those two sides are now starting to meet.
Start with BNY Mellon.
BNY is the primary custodian of RLUSD reserves.
It also provides Ripple with transaction-banking services supporting RLUSD operations.
That is a serious institutional foundation.
If corporate treasury teams eventually begin moving meaningful balances through RLUSD, the stablecoin needs:
reserve custody,
banking,
redemptions,
operational infrastructure,
institutional trust.
Ripple already has BNY inside that machinery.
So BNY is not sitting outside Ripple’s stablecoin strategy.
BNY is already underneath it.
Then we have JPMorgan.
This connection is especially important because it already went beyond theory.
In May 2026, Ondo, Kinexys by J.P. Morgan, Mastercard and Ripple completed a real cross-border, cross-bank redemption involving tokenized U.S. Treasuries.
The tokenized asset was on XRPL.
XRPL processed its leg in under five seconds.
Kinexys by J.P. Morgan handled the banking settlement side.
That one transaction says a lot about where finance may be heading.
The future does not require Ripple to replace JPMorgan.
It does not require JPMorgan to replace XRPL.
Different systems can handle different parts of the same institutional workflow.
XRPL handles one side.
JPMorgan infrastructure handles another.
Tokenized financial assets move between them.
That is much more realistic than the old crypto idea that one network has to destroy everything else.
And JPMorgan is building toward the same corporate-liquidity future Brad described.
Its Blockchain Deposit Accounts focus on giving corporations access to liquidity around the clock.
JPM Coin is positioned around keeping capital liquid and productive 24/7.
Read that beside Brad.
Brad says:
CFOs have dormant global liquidity.
JPMorgan says:
keep corporate capital productive around the clock.
Different institution.
Same problem.
Then Bank of America.
Bank of America Merrill Lynch was one of the founding members of Ripple’s Global Payments Steering Group, established around standards for blockchain-based cross-border payments.
Today Bank of America also sits among the banks supported through Ripple Treasury’s ClearConnect infrastructure, alongside institutions such as JPMorgan and Goldman Sachs.
That does not mean Bank of America secretly runs XRP.
That is not the interesting part.
The interesting part is what the corporate treasurer sees.
A company can have traditional balances at Bank of America.
Traditional balances at JPMorgan.
Other bank balances around the world.
Then:
RLUSD.
Digital-asset positions.
Tokenized liquidity.
Potential XRP access.
All visible through the same treasury-management layer.
That is how traditional banking and blockchain start merging.
Not because every bank disappears.
Because the corporate treasury layer begins orchestrating between them.
Then Citi gives us one of the strongest confirmations that Brad’s comments represent something wider than Ripple.
Citi’s own 2026 language talks about:
faster cash mobility,
always-available liquidity,
and money and assets capable of continuous movement.
Citi Token Services already moves tokenized deposits 24/7 across supported markets.
So now look at the pattern.
Brad Garlinghouse says:
corporate treasurers want dormant global liquidity unlocked.
JPMorgan says:
capital should remain liquid and productive 24/7.
Citi says:
treasury clients increasingly need continuously available liquidity.
Ripple Treasury says:
put idle corporate cash to work around the clock.
Four different organizations.
Same structural shift.
That is the real signal.
And this is where I think the $XRP thesis becomes much bigger than:
“Stablecoins are bullish for Ripple.”
Because RLUSD and XRP do different jobs.
RLUSD gives institutions stable digital-dollar liquidity.
XRP is XRPL’s native asset and bridge-liquidity tool.
Now look again at the corporations in this thesis.
CEVA Logistics.
American Airlines.
Subway.
The Adecco Group.
SSP Group.
Volvo.
These are international companies.
They do not operate inside one currency.
They deal with dollars, euros, local currencies, bank deposits and potentially an increasing number of digital representations of money.
Stablecoins do not eliminate the liquidity problem.
They can actually create more digital liquidity relationships.
Different stablecoins.
Tokenized deposits.
Different currencies.
Different settlement networks.
Someone still needs to connect value efficiently.
That is where XRP can become useful.
And the corporation does not need to become an XRP investor.
The company does not need to announce:
“We are holding XRP.”
The treasury system can simply evaluate the transaction.
What route is cheapest?
What route is fastest?
Where is the deepest liquidity?
If XRP provides the better route between two assets, the system can use XRP in the middle.
The CFO sees:
money moved.
The recipient sees:
money received.
The treasury team sees:
settlement completed.
That is financial infrastructure.
Then layer in everything Ripple has assembled.
Ripple Treasury gets Ripple into the CFO’s office.
RLUSD provides digital dollars.
BNY Mellon supports the reserve and banking layer underneath RLUSD.
Ripple Payments moves value internationally.
XRP provides native bridge liquidity.
XRPL provides public settlement.
Ripple Prime provides institutional financing, clearing, collateral and liquidity.
Tokenized money-market funds give excess corporate cash somewhere productive to go.
Ripple Treasury itself is now positioning tokenized MMFs, repo and an XRPL MMF portal as ways to keep idle capital productive.
Then developing XRPL Lending starts bringing another piece into the picture:
credit.
That matters because real financial systems do not run only on payments.
They run on credit.
Working capital.
Collateral.
Repo.
Financing.
Short-term liquidity.
Corporate borrowing.
Asset-backed lending.
If Ripple can move from helping corporate treasury see money, to moving that money, to deploying it, to financing against digital assets, then the stack starts becoming much larger.
Think about CEVA again.
Old world:
1,100 bank accounts.
$100M sitting idle.
Ripple Treasury helps centralize it.
Potential future architecture:
traditional balances visible inside Ripple Treasury
→ Digital Asset Account
→ RLUSD for digital dollars
→ tokenized MMFs for short-term deployment
→ secured repo
→ Ripple Payments for global movement
→ XRPL settlement
→ XRP when bridge liquidity provides the better route
→ eventually onchain lending and credit.
That is no longer a payments company.
That starts looking like a full corporate-liquidity stack.
Now multiply that across more than:
1,000 corporate customers
operating across:
160 countries
with roughly:
13,000 connected banks.
Ripple says Ripple Treasury facilitated about $13 trillion in customer payment volume during 2025.
That does not mean $13 trillion suddenly moves onto XRPL.
The important part is the size of the installed base.
Ripple does not need to find corporate cash.
The cash already exists.
It does not need to find multinational clients.
The relationships already exist.
It does not need to build treasury workflows from scratch.
The software already exists.
It now needs to progressively add digital rails inside those existing relationships.
That is why the beta testing matters.
The process has already started.
And RLUSD itself was approaching roughly $2.4 billion in circulation as of September 3, 2026.
So the digital-dollar layer is growing while Ripple simultaneously pushes deeper into corporate treasury.
That is why I increasingly think the $1 billion GTreasury acquisition may eventually look like far more than a software purchase.
Ripple may have paid $1 billion for:
direct distribution into global corporate liquidity.
And that is why Brad’s phrase “sea change” hits so hard.
For years crypto chased the corporation.
Now the corporation is starting to walk up to Ripple.
The CFO is not asking:
Which token will pump?
The CFO is asking:
Why is our money sitting idle across twenty countries when it could be moving and earning around the clock?
That is the kind of question that creates real adoption.
My strongest evidence-based corporate candidate remains:
CEVA Logistics.
Then:
Volvo
because the company already explored blockchain-based corporate money.
American Airlines
because Ripple Treasury already sits deeply inside a huge global treasury operation.
Subway
because its international franchise structure creates a massive payment and liquidity challenge.
The Adecco Group
because its 280 entities, 60 countries and 20 currencies make digital settlement extremely logical.
SSP Group
because its treasury team is literally looking for excess cash sitting around the organization.
Around those companies sit:
BNY Mellon
JPMorgan
Bank of America
Citi
and Goldman Sachs inside the broader banking environment Ripple Treasury connects with.
Then you have:
Ondo
providing tokenized U.S. Treasuries.
Mastercard
participating in real institutional tokenized-asset settlement.
Kinexys by J.P. Morgan
handling banking settlement.
And Ripple connecting everything through:
Ripple Treasury,
RLUSD,
Ripple Payments,
Ripple Prime,
XRPL,
and XRP.
That is why Brad’s interview feels much bigger to me than:
“CFOs are interested in stablecoins.”
He may be describing the beginning of corporate working capital itself becoming digital and programmable.
That is a completely different market.
And Ripple is already sitting directly in front of the companies controlling that money.
The bullish $XRP thesis is not:
CEVA found $100M, therefore CEVA buys $100M of XRP.
That is not how I see this.
The much bigger opportunity is:
corporate liquidity enters an ecosystem where XRP, RLUSD and XRPL are already native financial tools.
Once the CFO is already inside Ripple Treasury, the hardest part is done.
Ripple does not need to convince them to rip everything out and “adopt crypto.”
It can introduce new capabilities one layer at a time.
Stablecoin settlement.
Digital balances.
Tokenized MMFs.
Repo.
Cross-border payments.
Institutional liquidity.
Eventually lending.
And if those capabilities save money, free working capital or make liquidity easier to manage, corporations have a business reason to keep using them.
That is how this becomes normal.
That is why I keep coming back to Brad’s wording.
He did not say:
“Crypto investors are excited.”
He said corporate finance executives are asking how Ripple can help with real money sitting idle right now.
The problem already exists.
The customers already exist.
The liquidity already exists.
The banking relationships already exist.
Ripple now has the treasury interface connecting them.
And if even a small portion of the trillions already running through this ecosystem starts touching digital rails over time, the scale gets very serious, very fast.
That is the $XRP setup I care about.
Not one logo. Not one corporate announcement.
The possibility that Ripple is becoming part of the infrastructure through which global corporate liquidity itself gets managed.
SOON! > 引用 @Xfinancebull: Did Edward Woodford just connect T+0 settlement, vaults and onchain lending? That is EXACTLY where the $XRP Ledger is heading.
In his latest interview on the Talking Tokens podcast, Woodford explained why he’s becoming increasingly bullish on onchain lending through vaults as markets move toward faster and atomic settlement.
Here is why this matters more than another “bank adopts crypto” headline.
When markets move toward atomic settlement, the asset and the money can exchange at the same moment.
Sounds simple.
But there is a catch:
the cash has to be ready at that exact moment.
That creates a massive need for short-term liquidity.
And that is why Woodford says he is becoming increasingly bullish on vault-based onchain lending.
Now compare that with Ripple’s XRP Ledger roadmap.
XRPL is building Single Asset Vaults through XLS-65.
Those vaults can hold XRP, issued stablecoins and tokenized assets.
Then XLS-66 can turn pooled liquidity into fixed-term credit with defined interest, repayments and default handling.
That is not the typical crypto model where everything depends on anonymous overcollateralized loans.
Institutional underwriting can remain with the lender.
The lender decides:
who gets credit,
how much,
for how long,
and at what terms.
XRPL can handle the mechanics after that.
That feels much closer to how banks and credit funds already operate.
And Ripple is even developing closed-ended vault structures with subscription, investment and redemption periods.
That starts looking less like a crypto yield farm and more like an onchain credit fund.
Now bring in Zero Hash.
Woodford runs an infrastructure company that already supports XRP, XRPL and RLUSD.
Zero Hash also powers digital-asset capabilities for firms including Morgan Stanley, Interactive Brokers, Stripe and Visa.
So his vision matters.
He is describing banks progressing from wallets into stablecoins, tokenized deposits, money-market funds and securities.
And XRPL already has Ondo OUSG on the network, with RLUSD supporting minting and redemption flows for qualified institutions.
That means three major pieces are coming together:
tokenized assets
digital cash
credit
Then XRP gains another possible role because XRP itself can be placed into a vault and used as part of pooled liquidity.
That adds to the existing XRP utility around payments, settlement, DEX liquidity, reserves and transaction fees.
The Bank of England’s Project Meridian Securities has already explored intraday secured lending and automated repo around atomic settlement.
BIS Project Agorá has explored atomic wholesale settlement using tokenized bank deposits and central-bank reserves.
Woodford is not talking about some distant fantasy.
The whole financial system is starting to ask the same question:
How do we finance assets once everything settles onchain?
Ripple’s answer is becoming clearer.
-RLUSD provides the cash. -Tokenized assets provide the collateral. -Vaults organize liquidity. -XLS-66 turns liquidity into credit. -XRPL settles it. -And XRP sits underneath the network.
That is a much bigger XRP story than payments alone.
I'm ready! You? 🫵 https://x.com/Xfinancebull/status/2099196666889081146
## @RealAllinCrypto (ALLINCRYPTO) · 09-13 15:00 · ♥52 ↻9 💬6 🚨WATCH: RIPPLE IS BECOMING A 1 STOP SHOP FOR GLOBAL FINANCE!
Lauren Berta of Ripple's point is businesses don’t want 10 different providers for payments, custody, stablecoins, tokenisation and liquidity...
They want one trusted platform that does it all.
That’s exactly the $XRP Empire Ripple has been building for YEARS! https://x.com/RealAllinCrypto/status/2099151260750401841
## @devmajesty_ (ⅮEV MAJESTY) · 09-13 14:28 · ♥43 ↻8 💬10 I bought a PADDLEBOARD with crypto & yes, it showed up 🏄♀️ (No cards needed!)
Stablecoins → @SP3NDdotshop → delivered to my door.
10/10 use of internet money. https://t.co/qyUtlKnu8X https://x.com/devmajesty_/status/2099143126132658626
## @mattunchi (MAD Cripto 💎🫱.og) · 09-13 12:50 · ♥43 ↻6 💬2 ¿Y si te dijera que existe un dólar que no está guardado en ningún banco, te paga rendimiento solo por tenerlo, y acaba de entrar a la red más grande de stablecoins del planeta? 👀
Llevo días viendo esta noticia pasar casi desapercibida y necesito hablarles de ella, porque creo que en unas semanas todos van a estar hablando de esto.
TRON acaba de anunciar que USDe y sUSDe (los stablecoins de Ethena) ya están live en su red. Y no, no es cualquier integración menor. Vamos a desglosarlo, porque los números por sí solos ya son una locura. https://x.com/mattunchi/status/2099118615114940544