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▲ Stellar (XLM)
As Stellar (Stellar, XLM) partnered with DTCC and unveiled its plan for traditional asset tokenization, the XRP community stated, "It's not a defeat, but part of a multi-chain strategy," drawing a line against an expanded interpretation of the competitive landscape.
According to U.Today on May 27 (local time), the Depository Trust & Clearing Corporation (DTCC) and the Stellar Development Foundation announced a plan to enable the tokenization of traditional assets held by DTC on the public Stellar network. U.Today reported that while evaluating this announcement as a significant achievement for Stellar, the XRP community reacted immediately by presenting defensive arguments.
This collaboration creates a structure that directly connects DTCC, which is responsible for post-trade market infrastructure, with the Stellar public blockchain. The core of the plan is to verify whether highly liquid traditional assets, such as Russell 1000 constituents, major index-tracking ETFs, and short-term and long-term US Treasury bonds, are suitable for tokenization. Financial commentator Austin Campbell evaluated DTCC's move to transition to a real public blockchain as a positive step that shifts tokenization projects, which had been confined to private institutional experiments, towards the possibility of self-custody and on-chain combinations.
Stellar and XRP, an asset linked to Ripple, have historically been perceived as typical rivals due to their overlapping history and use cases. Stellar is also frequently compared to the XRP camp because it was founded by Jed MacCaleb, a co-founder of Ripple. For this reason, some cryptocurrency commentators interpreted the collaboration between DTCC and Stellar as an event that would negatively impact the XRP community.
XRP-critical commentator ScamDaddy posted on X (formerly Twitter) with a statement to the effect of "This will probably hurt the XRP community," targeting Ripple supporters. However, the XRP community and legal experts characterized the interpretation that Stellar's achievement automatically means a loss for XRP as a market misunderstanding. Pro-XRP lawyer Bill Morgan countered, "You missed the phrase 'multi-chain strategy'."
Morgan argued that this announcement is actually unfavorable news for Bitcoin (Bitcoin, BTC) maximalists. He stated that Bitcoin is an outdated blockchain with limited tokenization capabilities, making it difficult to be one of many Layer 1s and Layer 2s, adding, "If you're not a Bitcoin maxi, there's nothing to hurt." Other digital asset investors also reacted by saying that the institutional tokenization market is large enough for both XRP and XLM to coexist, and that they hold both assets.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. This content should be interpreted for informational purposes only.*
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