Here's the thing about institutional stablecoins that nobody's talking about—they don't play nice with each other. Think about it: JPMorgan isn't gonna touch Bank of America's stablecoin. Citi wants their own. Every major bank's building their own walled garden.

So what happens when these institutions need to actually transact? You hit a wall. That's where the intermediary layer becomes critical. XRP's being positioned exactly for this—a neutral bridge that lets competing stablecoins move between systems without forcing anyone to adopt a rival's token.

RLUSD fits into this puzzle too. It's not about replacing institutional coins. It's about creating the rails that make them all work together when banks need cross-border settlements or interbank liquidity.

The financial system's scaling problem isn't just about speed anymore. It's about making fragmented stablecoin ecosystems actually function as a unified network. And that requires something none of these banks want to build themselves—shared infrastructure they can all use without giving up control.