Cardano Creator Drops XRP and ADA Truth Bomb

Charles Hoskinson weighed in this week as traditional financial institutions delve deeper into blockchain infrastructure. He focused on Canton and its partnerships with banks and financial firms. His message was clear: these efforts are trying to replicate what existing Web3 networks already accomplish at a far greater scale.

Legacy Finance Replicating Web3

Hoskinson pointed out that projects like XRP and Midnight (on the Cardano network) are already operating at a level 100x beyond what legacy finance is attempting. XRP supplies fast, high-throughput settlement and liquidity. Midnight, built on Cardano, offers privacy, compliance, and smart contract capability. Both networks deliver solutions for institutions and users without restricting access.

Canton has become the primary vehicle for these efforts. It allows regulated institutions to experiment with tokenization and settlement. Banks can coordinate, maintain compliance, and test digital asset workflows. Hoskinson’s comments made it clear that replicating Web3 processes does not make them as good as Web3.

I love it when I see legacy finance come together with Canton and try to build what XRP and Midnight are already doing at a scale 100x beyond their ambitions.

These guys never learn and don't understand what makes Web3 unique and meaningful.

— Charles Hoskinson (@IOHK_Charles) December 26, 2025

XRP and Midnight at Scale

Hoskinson’s stance on XRP has evolved over the past year. While he was once hostile, he now supports the XRP ecosystem and has pushed for interoperability with Cardano. He recognizes XRP’s effectiveness in real-world financial infrastructure. The network supports cross-border transactions, high liquidity, and continuous settlement without requiring permission.

Midnight provides advanced functionality for regulated use cases on Cardano. Both networks demonstrate that Web3 systems can meet institutional needs while remaining open and decentralized.

By contrast, Canton represents a controlled replication. Its adoption by banks shows institutions understand the value of tokenization, but its design cannot match the scale, flexibility, and innovation of public networks. Hoskinson stressed that these systems may look impressive, but they cannot operate at the throughput or openness that XRP and Midnight already deliver.

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Understanding Web3

Hoskinson emphasized that legacy finance does not fully grasp what makes Web3 unique. Open access, decentralized governance, composability, and public liquidity are not features of Canton. These elements enable networks like XRP and Midnight to scale rapidly, innovate continuously, and provide solutions that go beyond improving existing processes.

His comments highlighted the gap between legacy finance and true Web3 networks. Canton allows institutions to experiment, but XRP and Midnight operate at a much larger scale. They already provide the speed, openness, and composability that institutions now strive to replicate.

Hoskinson’s comments underline the distinction between merely copying Web3 mechanics and delivering the capabilities that make public blockchain networks truly transformative.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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