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The XRP Ledger (XRPL) is poised for a significant leap forward with the anticipated Q2 rollout of an Ethereum Virtual Machine (EVM) sidechain. This development aims to bridge the XRPL's high-speed, low-cost settlement capabilities with Ethereum's robust smart contract functionality, potentially expanding Ripple's reach within the broader decentralized finance ecosystem.
XRP Ledger Embraces EVM Compatibility
Ripple CTO David Schwartz confirmed at the Apex 2025 event in Singapore that the EVM sidechain, developed with Peersyst, is currently live on testnet. The mainnet launch is expected in Q2, following further validator onboarding. This initiative addresses XRPL's current lack of native EVM support, which powers most decentralized applications.
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The sidechain, built using the evmOS software stack, will connect to the XRP Ledger mainnet via Axelar, serving as the sole provider for asset transfers.
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Wrapped XRP will function as the gas token on the EVM sidechain, enabling smart contract execution without users needing to leave the XRP ecosystem.
Expanding Stablecoin Offerings
In May, the XRP Ledger also broadened its stablecoin portfolio with the introduction of two new region-specific assets:
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EURØP: A MiCA-compliant euro stablecoin from Schuman Financial, backed by euros and safeguarded by institutions like Societe Generale. This marks the first fully MiCA-compliant euro stablecoin on XRPL.
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USDB: A dollar-pegged token issued by Brazil's Braza Group, backed by U.S. and Brazilian bonds, offering Brazilian users a secure digital asset for payments and hedging.
XRP Faces Scrutiny Over Centralization Concerns
The news of XRPL's advancements comes amidst criticism from figures like entrepreneur Gary Cardone, who accused XRP of aligning with centralized governments. Cardone's remarks followed speculation about the European Central Bank (ECB) potentially integrating the XRP Ledger into its digital euro infrastructure. He controversially likened XRP's financial influence to a "new virus," drawing strong backlash from the XRP community.
Robert Doyle, known as Crypto Sensei, countered these claims, emphasizing that there is no official confirmation of Ripple technology being used for the digital euro. He clarified that while the ECB is exploring Central Bank Digital Currencies (CBDCs), no final decision on the technology stack has been made.
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