DEEP XRP Ripple + Evernorth, FLARE drama, SBI Strategy, Why Largest EURO Bank Chose CANTON Network

Added: 2026-06-01

[00:00:00]Hey, hey everybody. It's Eddie from Tokyo. This is your cryptocurrency update from Japan. And in today's video, we've got a little bit of drama from the co-founder of Flare Networks, Hugo Filion. And then a bit of clarification, something I really want you to know.

[00:00:17]It's about Japan and the digital asset XRP. And then we have Canton. Canton Networks. They bring on HSBC. I want to explain why they chose the Canton network and then some story time. Yes.

[00:00:33]So, we've got an article that was written by the former Ripple general manager Ashish Bura. He is now the CEO of Evernorth. But first, I want to bring to your attention that the Tokyo closing bell had the Nikk hit a record high, exceeding 65,000 yen for the first time ever, closing at 65,158.

[00:00:57]Wow. Up 1819 yen. It's uh it just incredible. Now, let me ease you into the drama. We've got uh Scott Melker and Ran Nure. Now, I really have tried to like Scott Melker over the course of years uh since I've been in the space doing content alongside his content. And I I I have stuck up for him in the past, but I just cannot stick up for him anymore. He is just turned out to be uh too much of a Bitcoin maxi for me. and with his buddy Ran Nure. They really embarrassed each other a lot. In fact, I think the digital asset history books just got updated with the most embarrassing video clip of 2026 with their comments on XRP. And the best reply of 2026 came from Hugo Fyion. He said that the least pleasant call he had in the process of building Flare was with a VC fund where Ran was an adviser.

[00:02:06]Ran ranted at Hugo for a good 15- 20 minutes that XRP was worth nothing, that building DeFi for XRP was a pointless pursuit and that flare would never work.

[00:02:22]My goodness. Fortunately, uh, Hugo says his character is such that rather than dissuade him, it made him more determined.

[00:02:32]Wow. I just I just respect Hugo more than ever and and had the bar very high for him before and I could tell you he just keeps reaching a higher bar every single day. The SBI CEO, Mr. Yoshi Takao says he makes all decisions based on three yard sticks. Trust, justice, and benevolence. This is Shin Gi Jin. Very much part of the Japanese culture and it is what a lot of leaders do when they weigh all sides of making a decision. He was in this President's Insight interview that was published on May 22nd. It's fabulous. And yes, it is now translated in English. So, I'll put a link to it in the description of this video. It's about 35 minutes long. Now, for a little bit of clarification and before I get into the details, I want to give background as to where the stable coin market is going. If you haven't heard of the stable coin sandwich, you will because this is a term that's being used in all of the different uh research papers. This is one that happens to be from Harvard and all of the articles that have come out in the last six months. It's where the stable coin sits in the middle of two currencies. So you can go from US dollars through a stable coin to euro. They bypass the correspondent banking system entirely.

[00:04:09]No correspondent preunding. So there is no nostro vostro required and the liquidity provision shifts to exchanges and AMMs which is blockchain is where those stable coins reside. In fact the impact on the nostro vstro accounts is profound. You can find many articles.

[00:04:33]This one is Finn extra where no more multi-day wires or the need for the prefunded large balances sitting in those correspondent banking partner accounts is needed. Now, here's the clarification. The big three major banks in Japan are all working together on a stable coin and so is SBI. And SBI is going to use their stable coin which is yenbacked with circle and ripple and they are going to pursue these global payments utilizing stable coins. The yenback stable coin is called JPYC.

[00:05:15]They are issuing this stable coin with the group called Star Tale. That will be the customer interface. And you can see it's going to have an array of stable coins. The JPYC, USDC by Circle, and RLUSD by Ripple. It will be on a brand new blockchain, which is also some of the funding is also coming from Sony and it is called Stream. to help get that new compliant blockchain off the ground. There was a $63 million seriesA funding of which SBI group contributed 50 million. The Star Tale CEO and now SBI equity partner Soto Watanabi thinks that every major fiat currency will eventually have a regulated compliant stable coin twin.

[00:06:11]The question is, of course, which jurisdictions get there first. One of the first smaller countries that are going to get there first is Georgia.

[00:06:21]Look at this. Tether announced that they are going to help launch the official stable coin for the Georgian Larry and it's backed by the government of Georgia. This will be one of the first governmentbacked national currency stable coins ever. And now to that HSBC story. This is Lewis Sun. He's the global head of digital currencies. And today in the Asian banker, he explained why the tokenized deposits are on the Canton network. He said it makes sense for their clients because there's so many of his customers already there that they can share this connected shared infrastructure. So he just he said in the article that it was too much to ask his clients to move over to their blockchain which they had built. It was easier for them to go where everyone else was which was the Canton network.

[00:07:17]So this service now is available in the United States this morning. One of the first images I saw was uh from Nikita Bear at like 6:00 in the morning. He had taken a picture obviously out of his hotel room. I think he's at the Shine Prince. I'm pretty sure that's where he's at. I know this view and I know the location of this view very well. And this was the beautiful sky we had this morning. It's just been a lovely day.

[00:07:45]And now we're going to get into that story time. This is interesting from the XRPL Commons. They are reading their community magazine. This is an article by Ashish Burla and it's read by Cassie Hirs. And until next time, do you take care for now? Bye-bye.

[00:08:04]>> Hey everyone, Cassie Hirs here, director of content at XRPL Commons. Today I'm going to be reading to you from the community magazine number seven, which is on the future of DeFi. The next chapter of XRPL from bridge to backbone.

[00:08:18]As onchain finance expands on XRPL, Evernorth is helping position XRP as core collateral for a new capital market. by Ashish Berla, CEO at Evernorth. The XRP ledger is entering a new phase with new features in the works that support lending and more advanced financial tools at the protocol level.

[00:08:40]XRP is evolving from a bridge asset into productive collateral as well. This will help power loans, support tokenized assets, and provide liquidity across the ecosystem. That's a big shift. A bridge asset helps interchange one token for another. Productive collateral underwrites an entire financial system.

[00:09:03]Today, global capital markets run on collateral. US treasuries alone total more than 30 trillion. These assets back loans, trading activity, and liquidity across markets. Without collateral, markets stall from passive asset to onchain collateral. Take lending for example. As it becomes more available on XRPL with rules enforced automatically on chain, XRP can begin to play a similar role inside the network.

[00:09:34]Loans can be secured, tokenized assets can be backed, liquidity pools can deepen. Capital formation on the XRP ledger has been increasing, and demand for more sophisticated onchain tools is growing alongside it. Daily transactions on XRPL recently reached a 13-month high, averaging around 1 million transactions per day. Meanwhile, in the back half of 2025, XRPbased ETFs exceeded 1 billion in inflows. This evolution can transform XRPL from a payments network into a capital market.

[00:10:11]And capital markets need capital that is steady, long-term, and thoughtfully managed.

[00:10:18]XRP holders have historically had one option, hold for appreciation.

[00:10:23]Onchain primitives change that equation.

[00:10:27]Again, with lending as an example, when loan terms, collateral requirements, and liquidations are facilitated through code, risks become more programmatic, observable, quantifiable.

[00:10:40]That kind of visibility is what larger institutions look for.

[00:10:45]Evernorth's role in scaling onchain capital. At Evernorth, we see this unfolding in a few ways. As the financial world continues to move onchain, including treasuries, funds, and real world assets, more assets are being tokenized and settling on the ledger. When this happens, liquidity becomes critical. Tokenized markets only work efficiently if capital is pulled at scale to support trading, lending, and settlement. Deep liquidity tightens spreads, improves execution, and stabilizes markets. That's where XRP, stable coins, and other liquid assets shine. They can be deposited into onchain lending markets, liquidity pools, and automated vault strategies.

[00:11:30]These vaults allocate capital to where demand already exists, generating yield from real economic activity within the ecosystem.

[00:11:40]As more assets are tokenized, settlement increases. As settlement increases, demand for collateral in liquidity rises. And as liquidity increases, more capital can be productively put to work.

[00:11:55]In this cycle, XRP evolves from an elegant money transfer asset into foundational ondd. A governed digital asset treasury helps scale and stabilize that system. If the XRP ledger is going to power a growing financial ecosystem, it needs long-term institutional-grade stewards participating on chain. Not short-term traders farming rewards, not leverage layered on leverage, but disciplined institutional capital that supports the creation of long-term product value.

[00:12:29]The community has long emphasized settlement efficiency. The next metric is capital efficiency. Putting XRP to work in ways that strengthen the network while growing value responsibly.

[00:12:41]Efficiency is activated by scaled balance sheets. Evernorth can bring that scale by bridging public market capital and protocol markets. We plan to provide a regulated vehicle for exposure to XRP for investors who cannot or prefer not to directly custody and deploy digital assets. and we aim to channel that capital into on ledger participation.

[00:13:03]XRPPL proved it can reduce friction in crossber payments and move value efficiently. The next phase is scaling that same efficiency to power the exchange of the world's tokenized assets and create more value in the process.

[00:13:19]Read more articles of Community Magazine 7, the future of DeFi on our website.

[00:13:23]Got an idea for the next mag? Drop us a message on X. Thanks for tuning in.