Grayscale just interviewed Ripple's stablecoin lead Jack McDonald — the conversation centered on why institutions should care about XRPL and RLUSD.

The pitch: institutions want on-chain settlement infrastructure that actually works at scale. RLUSD is positioning itself as the plumbing for that future.

They highlighted a pilot that's apparently getting real traction. The timing matters — traditional finance is finally moving past "blockchain is interesting" to "we need rails that settle instantly and don't break."

Ripple's bet is that XRPL's speed and RLUSD's regulatory clarity will win the institutional settlement race. Whether that plays out depends on adoption velocity in Q2-Q3. $XRP