Following last night’s ground-breaking news of Western Union launching a stablecoin on Solana (SOL), the official X handle of the fastest Layer-1 chain has thrown shade on Ripple (XRP).
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For what’s supposed to be a dig at Ripple’s XRP coin narrative of a bridge currency between fiat & digital assets, the message stated: “There is no bridge currency. There are stablecoins, on Solana. I love you”, followed by a Western Union’s & Solana’s logos.
Solana Flexes Big On Ripple’s XRP Ledger
While Ripple’s team didn’t provide any answer yet, the ties between Western Union & XRP Ledger have been on the controversial side. Previously, Ripple’s XRP Ledger participated in a pilot blockchain project with Western Union, dating all the way back to 2015.
The popular Layer-1 ledger was also tested for worldwide transactions this year, but Western Union’s CEO Hikmet Ersek wasn’t keen on pursuing a partnership with Ripple (XRP) due to “no cost savings from pilots xRapid”, a crypto custody & transfer ecosystem using XRP coin as the main bridge currency.
Surprise Launch As ETF Showdown Drags On
Aside from adoption, the two popular Layer-1 chains are actively competing in the ETF field. Both top-tier altcoins garner billions of dollars on Spot markets daily.
With the United States government still in lock-down mode, the United States Securities and Exchange Commission (SEC) has at least 20 Ripple or Solana-related exchange-traded fund (ETF) submissions to go through.
While the SEC’s Crypto Task Force hibernates, Grayscale’s Solana Trust ETF is going live tomorrow with the GSOL ticker, offering traditional stock market investors a quick way to get exposure to Solana (SOL).
This got approved by the New York Stock Exchange (NYSE) Arca due to compatibility with Spot crypto commodity-based generic standards released by the SEC roughly a move before taking a break.
Despite the Western Union deal & ETF launch, Solana’s (SOL) native coin stood below $200 on Wednesday, consolidating for the past 24 hours as the broader crypto markets trade sideways.
On The Flipside
- Due to the United States government shutdown, all 20 ETF submissions have missed their original dates.
Why This Matters
Stablecoin legislation in the United States has powered up the adoption of blockchain ever since sliding through the Genius & Clarity Acts.
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Grayscale’s spot Solana ETF (GSOL) launched on NYSE Arca on October 30, 2025, amid a government shutdown, thanks to automatic S-1 effectiveness and new generic listing rules. This marks a major win for SOL exposure, with staking yields baked in and analysts eyeing billions in inflows.
Western Union picked Solana for its USDPT stablecoin launch in 2026, citing speed and compliance, after past tests with XRP for payments. The snub sparked online roasts from Solana fans mocking XRP’s “lost deal,” fueling a fresh rivalry in cross-border crypto wars.
The GSOL debut could drive SOL toward $250+ short-term via institutional buys, mirroring Bitcoin’s post-ETF surge. But volatility lingers from regulatory pauses, so expect 10-20% swings tied to inflows.
USDPT will enable fast, low-cost remittances on Solana, issued by Anchorage Digital and integrated with WU’s 400K+ outlets. It aims to cut fees on $150B annual transfers, boosting Solana’s real-world utility.
The squabble highlights blockchain competition, pushing innovation like Solana’s speed vs. XRP’s ledger focus. It could accelerate mainstream adoption, with more firms eyeing stablecoins post-GENIUS Act.
