• Ripple CTO validates three-pillar framework: RLUSD, XRP, and XRPL infrastructure.
  • XRP maintains unique position while XRPL expands to support broader asset classes.

Ripple CTO David Schwartz has confirmed that the company has developed a comprehensive financial system built around the XRP Ledger, XRP token, and newly introduced RLUSD stablecoin. The acknowledgment came during the recent XRP Las Vegas event through an exchange with crypto reporter Vincent Scott.

Scott presented a framework describing Ripple’s ecosystem as a self-contained financial architecture, which Schwartz validated as accurately describing the company’s direction. “Yes, you can consider those things a financial system,” Schwartz stated when asked about the three-component structure.

For those that need it in print
The Biggest News of the XRP Las Vegas was this

Confirmed. Ripple built a financial system by CTO @JoelKatz

Me “Is what ripple built a Financial system: wherein the Unit of Account, RLUSD, transmits over a decentralized Method of Payment, XRPL,…

— VincentScott (@VincentSco72192) June 2, 2025

The framework’s main components are XRP acting as the medium of exchange or “gas,” RLUSD acting as the unit of account, and XRPL offering the decentralized payment infrastructure. Together, these elements create a system capable of facilitating cross-border payments while potentially delivering broader financial services traditionally offered by banks and fintech institutions.

Schwartz described Ripple’s objective of using this developing infrastructure to provide services like loans, investments, and payments. By adding RLUSD, Ripple appears to be moving closer to a dependable, expandable base for regular transactions and settlements outside of its present payment focus.

Initial skepticism gives way to confirmation

At first, the disclosure went unnoticed, and Scott was upset that the recognition hadn’t received more publicity. Since he had only offered his own version of events, there was reason to doubt his account of the conversation.

After Scott publicly urged Ripple’s CTO to verify the exchange, Schwartz complied with Scott’s request with justification. This confirmation validates Scott’s framework and provides official backing for the financial system interpretation.

The delayed recognition highlights how important developments in cryptocurrency can sometimes be overlooked without proper documentation or immediate verification from official sources.

I did say that you could consider the XRPL together with other things Ripple has built to be a financial system. I hope over the next few years it can provide a significant fraction of the financial services that people need every day from payments to investments to loans.

— David 'JoelKatz' Schwartz (@JoelKatz) June 4, 2025

Ricky Tan, a community member, questioned whether attention is moving from XRP to the wider variety of assets on the XRP Ledger. Schwartz explained that even though XRPL is growing quickly, XRP continues to hold a special place in the ecosystem.

The CTO stressed that stablecoins, tokenized real-world assets, and eventually different kinds of loans are now supported by XRPL in addition to XRP. However, XRP holds special properties that distinguish it from other XRPL assets.