Cardano founder Charles Hoskinson has surprised many by openly backing Ripple as a potential acquirer of Circle, the company behind the USDC stablecoin. In a recent YouTube video, Hoskinson said a Ripple–Circle deal could actually improve the crypto ecosystem more than if Circle were acquired by Coinbase or venture giant a16z.
“I’d rather Ripple—the XRP people—buy Circle,” Hoskinson said , adding that Ripple could bring “more diversity” and act as a “better custodian” than the current players.
Hoskinson took aim at what he called the “Coinbase–a16z–Circle mafia,” alleging they’ve created a self-serving ecosystem where smaller players struggle to get listed, access liquidity, or gain stablecoin support.
“If you’re outside of it, you get completely blacklisted,” he claimed.
He also touched on Real USD, a new stablecoin project that’s been in talks with Cardano since last year. The team behind Real USD had initially asked Cardano to follow up in March, and discussions have resumed since then.
However, the project’s direction could depend heavily on Circle’s future.
“The big issue that XRP is running into is—will Circle be acquired or not? Because this radically changes the entire strategic lens and roadmap of Real USD.”
Rumors suggest Ripple may be considering an acquisition of Circle worth up to $11 billion. If that happens, Real USD could potentially merge with Circle, affecting where and how the stablecoin is issued. Despite the uncertainty, Hoskinson emphasized that Cardano is ready to support Real USD, especially for use within the XRP DeFi ecosystem.
“We told them: We’re here to help. We believe XRP DeFi is very important… and we’ll even do the integration for free.”
He also pointed to Midnight, Cardano’s upcoming sidechain, as a simpler path for Real USD deployment. With a trustless bridge to Cardano and better compatibility with Ethereum-based tooling, Midnight could serve as an easier launchpad while still operating under the Cardano umbrella.
While Hoskinson’s support of Ripple might raise eyebrows, his message was clear: crypto needs fewer gatekeepers and more collaboration between ecosystems. And if Ripple buying Circle helps break up the current power structures, he’s all for it.
