Hoskinson Backs Ripple’s Potential Circle Takeover

Charles Hoskinson, founder of Cardano, has voiced support for rumors that Ripple might acquire stablecoin issuer Circle, calling the deal a chance to shake up an industry he describes as dominated by an insular consortium. Speaking during a recent “Ask Me Anything” session, Hoskinson criticized what he called the “Coinbase-A16Z-Circle mafia,” suggesting that the closed nature of that group stifles innovation by limiting access to listings, liquidity, and stablecoins for projects outside its sphere.

Rather than viewing a Ripple-Circle union as a threat, Hoskinson argued that the move could fracture the existing monopoly and open the door to new players. He went so far as to suggest that Ripple could emerge as a more reliable custodian for crypto assets than some of today’s leading platforms. By deepening its involvement in stablecoins, Ripple could, in Hoskinson’s view, catalyze a more competitive landscape that benefits protocols such as Cardano and those building decentralized finance on the XRP Ledger.

Hoskinson also revealed ongoing discussions between Cardano developers and the team behind RLUSD, a stablecoin project exploring integration via Midnight, a layer-two solution noted for its seamless compatibility with Ethereum tooling and its trustless bridge to Cardano. Should Ripple proceed with the Circle acquisition, it could alter RLUSD’s strategic roadmap, Hoskinson acknowledged, but he emphasized Cardano’s willingness to support the stablecoin regardless of broader market moves.

“We believe XRP DeFi is very important, and a stablecoin is a huge part of that,” Hoskinson said, pledging to integrate RLUSD into Cardano at no cost in recognition of the vibrant XRP community. He highlighted Midnight’s support for private stablecoins and its potential to deliver a native-feel experience on Cardano as key advantages for the collaboration.

Hoskinson’s public embrace of Ripple’s expansion ambitions and Cardano’s free integration offer underscore his broader vision for a more open, competitive crypto ecosystem. As speculation around the potential Ripple-Circle deal intensifies, industry watchers will be closely monitoring how both companies navigate the proposed acquisition and what it could mean for the future of DeFi.