
This is an interesting perspective. It's actually not true that stablecoins like $RLUSD are going to solve settlement at scale. The BIS has already dismissed this idea entirely. I do agree that RLUSD is likely to dominate dollar denominated payment and settlement flows. Other currency pairs, however, will need to be handled either through tokenized treasuries, fiat, or a bridge asset like $XRP. The world financial system still needs a bridge. That's not going away. The dollar has been that bridge for a long time. Whether it continues to play that role moving forward is very much up in the air.
