Fed access talks: XRP could move dollars via RLUSD

Evernorth CEO Asheesh Birla said limited access to Federal Reserve master accounts for approved stablecoin issuers could reshape U.S. stablecoin settlement. The proposal would still keep settlement at the Fed, but create a new “movement rail” inside the payments stack. Birla argues that XRP could play that movement layer if Ripple USD (RLUSD) meets the regulatory criteria. He noted that XRP would not replace Fed settlement; instead, XRP could help move dollars once regulated stablecoin infrastructure links more directly with bank accounts. The claim is conditional, but it ties XRP’s role directly to a potential Fed-access framework. The discussion references multiple U.S. policy items. A March 30 Federal Reserve staff note explored how payment stablecoins might reduce friction in cross-border transfers, with adoption depending on regulation, technology, and conversion costs. Separately, the FDIC on April 7 approved a proposed rule implementing GENIUS Act standards for reserve assets, redemption, capital, risk management, custody, and safekeeping for permitted payment stablecoin issuers. On the public-market angle, Evernorth filed an SEC Form S-4 on March 18 for a business combination with Armada Acquisition Corp. II (NASDAQ: XRPN). Evernorth said it has raised more than $1 billion in gross proceeds and expects to become a publicly traded XRP treasury company on Nasdaq if the deal closes. For crypto traders, the key takeaway is that XRP’s narrative is increasingly linked to U.S. dollar settlement infrastructure—though timing and feasibility depend on regulatory outcomes.