The Fed opens its infrastructure to stablecoins: XRP positions itself

A seemingly innocuous technical reform could fundamentally transform dollar payments. In the United States, the idea of ​​opening access to the Federal Reserve to certain issuers of stablecoins shakes up the balance established between banks and fintechs. In this context, XRP resurfaces with an unexpected promise: to become a key cog in the circulation of monetary flows. Still hypothetical, this scenario is part of a restructuring of the American financial infrastructure.

Towards direct access to the Fed for stablecoins

The debate was relaunched by Asheesh Birla, CEO of Evernorth, who detailed on X a proposal aimed at granting limited access to Federal Reserve accounts to certain issuers of stablecoins.

He reminds the importance of this tool by declaring : “a master account with the Federal Reserve constitutes the heart of the payment system. It allows direct access to the settlement of dollars at source. Today, only banks have them. Each payment application must go through a bank to access it ».

This position reveals a potential transformation of the very heart of dollar payments.

Several regulatory elements support this dynamic:

• A March 30 Federal Reserve note explores the use of stablecoins to reduce friction in cross-border payments;
• The model described is based on a conversion into stablecoins, a simplified transfer, then a reconversion into local currency;
• On April 7, the FDIC approved a proposal governing stablecoin issuers;
• This framework includes requirements on reserves, risk management, capital and asset conservation.

These developments are gradually shaping an architecture where stablecoins could access the Fed's monetary infrastructures more directly.

XRP envisaged as a means of circulation of payments

In this scenario, the role of XRP is not at the settlement level, but downstream, in the circulation of funds. Asheesh Birla clarifies this distinction based on the case of the stablecoin RLUSD: “RLUSD is issued by Ripple’s trust company, regulated in New York. This regulatory profile is similar to what is contemplated by restricted access to a primary account with the Federal Reserve.. He adds: “If the proposal is successful and RLUSD is eligible, settlement will continue to occur through the Federal Reserve. But, XRP will then become a rail of circulation of the dollar within the payments infrastructure in the United States”.

This vision positions XRP as a technical tool capable of streamlining financial flows once settlement has been made via the Fed.

This positioning is accompanied by a broader financial strategy supported by Evernorth. The company is developing a treasury model based on Ripple's crypto and has already raised over $1 billion. It is targeting a Nasdaq listing via a merger with Armada Acquisition Corp. II, with the aim of offering regulated and transparent exposure to this asset. This approach reflects a desire to insert XRP into traditional financial markets, alongside its potential use in payment infrastructures.

Such a development remains dependent on the decisions of American regulators. If this framework comes to fruition, it could redefine the place of stablecoins and cryptos in monetary architecture. XRP would not replace existing institutions, but would integrate into their mechanisms, paving the way for a progressive hybridization between traditional finance and blockchain technologies.