You should have a look at Quant's recent updates. This will be a multichain solution and the one in the middle of it all doesn't seem to be only XRP. Not being tribal. I've asked persons to answer how this isn't a VERY big deal. These product announcements were between the last 3 months or so with Quantnet and Quant Fusion Multi-Ledger Rollup being released in October. No one is really speaking about it and it will catch many off guard being tribal in their bubbles. See below.
Quant Network’s Quantnet and Quant Fusion Multi-Ledger Rollup address key interoperability challenges faced by competitors like Chainlink’s CCIP and Ripple’s XRP, particularly for institutional use cases.
Here’s a concise breakdown of how they tackle these issues:
Eliminating Wrapped Tokens and Bridges Problem: Chainlink’s CCIP relies on bridges and wrapped tokens, introducing risks like bridge vulnerabilities, which can render wrapped tokens worthless and raise security/compliance concerns for institutions.
Quant’s Solution: Quant Fusion, a patented “Layer 2.5” multi-ledger rollup, enables native cross-network interactions without bridges or wrapped tokens.
Assets on one chain can be used as collateral or within applications on another while maintaining the security and trust of their origin network.
Accessing Liquidity Without Pre-FundingProblem: Ripple’s XRP-based On-Demand Liquidity reduces pre-funded accounts but requires XRP as a bridge currency, facing regulatory challenges (e.g., U.S. restrictions) and volatility concerns, deterring some institutions.
Quant’s Solution: Quantnet acts as a programmable orchestration layer, allowing banks to use preferred digital assets (e.g., CBDCs, stablecoins, private tokens) for payments and settlements without mandating a specific token.
Quant Fusion enables regulated institutions to access liquidity from public blockchains while ensuring compliance through KYC controls and whitelisting, avoiding exposure to unvetted counterparties.
Unified Asset Representation Problem: Solutions like CCIP result in fragmented liquidity, where the same token on different chains is treated as separate assets, complicating user experience and reducing liquidity.
Quant’s Solution: Quant Fusion provides a canonical asset representation, unifying assets across multiple ledgers to simplify user experience and enhance liquidity for institutions.