These 3 Crypto Assets Will Run The New On-Chain US Financial System Launching In October Under The DTCC…

So yesterday I broke down what the “DTCC” is, and why their announcement to begin tokenizing $114 trillion worth of stocks, ETFs, and Treasuries this year is the start of one of the biggest financial transformations of our lifetime... (You can read it here).

And that leads us to an obvious question that could be worth millions to investors like you and I, which is…

Which Blockchains Are They Going To Use?

Well that’s what I’m going to answer for you here today...

Out of the thousands of crypto tokens in existence, there are three that will sit at the center of this new financial system, and they are…

Ethereum, Solana, and Chainlink.

Each one is going to play a completely different role, which means they're not in competition with each other... They're meant to work together.

So let's break down the role of each one so you can understand what's actually being built here...

#1: Ethereum (ETH): The New Settlement Layer For Wall Street…

Ethereum is the most established blockchain in the world after Bitcoin, and it's the one that institutions have already chosen as their default settlement layer for tokenized real-world assets.

Think of Ethereum as the "title office" for the new financial system...

When BlackRock launched its tokenized Treasury fund called BUIDL, they built it on Ethereum. JPMorgan's private blockchain runs on Ethereum technology. AAVE runs one of the largest tokenized real-world asset lending markets in the world, and it lives on Ethereum.

The reason institutions keep choosing Ethereum isn't speed... there are faster blockchains out there. They choose Ethereum because it's the most battle-tested, decentralized, and secure smart contract platform that's ever been built.

When you're holding $114 trillion of someone else's money, "battle-tested" matters more than "fast."

Now from an investor’s perspective, every time a new tokenized asset gets created on Ethereum, it generates fees that are paid in ETH and partially burned, which means the more usage Ethereum gets, the more deflationary it becomes over time… Less Ethereum + increased demand = higher prices for ETH.

So think of Ethereum as the foundation... the bedrock layer where the deeds get recorded and the institutional contracts get signed.

#2: Solana (SOL): The New Consumer Layer For Tokenized Stocks…

If Ethereum is the title office, Solana is the trading floor…

Solana was specifically designed for high-speed, high-volume, low-cost transactions. It can process tens of thousands of transactions per second for fractions of a penny each, which makes it the only public blockchain currently capable of handling the kind of retail-scale trading volume that real stocks experience every day.

That's why it's getting adopted by tokenized stock platforms...

A platform called xStocks already lets investors trade tokenized versions of Apple, Tesla, Microsoft, Nvidia, and 50+ of the world's largest equities and ETFs. xStocks is built primarily on Solana, because it's the only public blockchain that can match the speed of a normal stock exchange.

Solana also has 5,000,000 daily active users right now, making it by far the most-used public blockchain on Earth from a consumer standpoint.

So when a 22-year-old in Indonesia or Brazil decides to buy 1/100th of a share of Tesla on a Tuesday afternoon, that trade is most likely going to settle on Solana.

Ethereum holds the deeds, while Solana moves the money...

#3: Chainlink (LINK): The Glue That Holds The Whole System Together…

Now here's where it gets really interesting...

Most people who follow crypto know what Bitcoin is, Ethereum, and Solana are…

But almost no one I talk to actually understands what Chainlink is, or why it might end up being one of the most important pieces of infrastructure in the entire financial system…

See, tokenized stocks have a problem…

They live on the blockchain, but the data about them lives in the real world...

The price of a tokenized Apple share has to match the price of a real Apple share trading on the NASDAQ in real-time, dividends need to flow through, corporate actions need to be reflected... And none of that information lives on the blockchain by default.

That's where Chainlink comes in...

Chainlink is what's called an "oracle network." Its job is to deliver real-world data onto the blockchain in a secure, tamper-proof way. Every time a smart contract needs to know the price of a stock, the value of a Treasury bill, or the exchange rate of a currency, it pulls that data through Chainlink.

In other words, no Chainlink, no tokenized assets...

That's why Chainlink has already secured over $20 trillion in transaction value across the entire blockchain industry, and why over 60 banks, asset managers, and tokenization platforms are using Chainlink as their data infrastructure right now.

But here's the part that most people completely miss...

Chainlink Is NOT Just An Ethereum Project...

A lot of people assume Chainlink is "an Ethereum thing" because that's where it started, but that's a fundamental misunderstanding of what it actually is today...

Chainlink is chain-agnostic, and it runs on top of every major blockchain in existence...

In May of 2025, Chainlink launched a product called CCIP (Cross-Chain Interoperability Protocol) on Solana, making Solana the first non-Ethereum blockchain to fully integrate with Chainlink's network…

What this means in plain English is that Chainlink is the only piece of infrastructure that lets a tokenized asset move safely between Ethereum and Solana, between Solana and Arbitrum, between Arbitrum and Base, between Base and BNB Chain... across more than 60 different blockchains.

When a tokenized Tesla share needs to move from Solana, (where it trades), to Ethereum, (where it gets used as collateral), it moves through Chainlink CCIP…

When the DTCC, BlackRock, JPMorgan, and Goldman start moving real stocks across multiple blockchains starting in July, the underlying messaging that secures those movements will most likely run through Chainlink.

Chainlink is the messenger between every blockchain and every real-world data source... It’s the router, the translator, the settlement messenger that makes everything else work.

In April of this year, Chainlink's cross-chain weekly volume surged 260% to over $1.3 billion. CCIP is now used by Coinbase, Lido, Aave, JPMorgan, ANZ Bank, UBS Asset Management, the Hong Kong Monetary Authority, SWIFT, and Euroclear...

That's not "exploring partnerships," and it's not speculation about the next 3 to 5 years... it's a live, in-production global financial network that's already running today.

And That’s Brings Me To XRP, Since I Know Many Of You Are Wondering...

So, what about XRP? Isn't Ripple part of all this too?"

Kind of…

Ripple the company has won a role in the new system...

They bought a prime brokerage firm called Hidden Road for $1.25 billion back in October of 2025, rebranded it “Ripple Prime”, and got it plumbed into the DTCC's clearing infrastructure earlier this year.

Ripple Prime is now officially in the DTCC tokenization working group, right alongside BlackRock, JPMorgan, Bank of America, and the rest...

But here's the part the XRP crowd is going to leave out...

Even inside Ripple's own institutional platform, the XRP the token is being sidelined...

Ripple Prime processes its post-trade volumes in RLUSD, which is Ripple's stablecoin... not in XRP. And the DTCC has not named XRP in any of its official materials about the tokenization service.

So Ripple the company won a role, and RLUSD the stablecoin won a role... but the actual XRP token is still standing on the outside looking in...

So What Is The Real-World Use Case For XRP Itself?

Let me walk you through the actual demand drivers for the token, in plain English...

1: Gas fees on the XRP Ledger.

Every transaction on XRPL burns a tiny amount of XRP, which sounds bullish until you look at the numbers...

Since the ledger launched in 2012, only 14 million XRP have been burned in total. Out of 100 billion total supply, that's roughly 0.014% in 13 years...

So network usage doesn't meaningfully impact the token's economics…

2: Account reserves.

You need to hold 10 XRP minimum to maintain an active wallet on XRPL which is also mathematically trivial… So no justified use case here either.

3: Bridge asset for cross-border payments.

This was Ripple's original use case for XRP...

The volume that exists is small relative to global payment flows, and Ripple itself is now pivoting institutional volume to RLUSD, because banks would rather settle in a dollar-pegged stablecoin than a volatile asset… So once again, the XRP token is not being used here even in Ripple’s primary use-case…

4: Liquidity for tokenized real-world assets on XRPL.

There is roughly $3 billion in tokenized real-world assets currently sitting on the XRP Ledger, including some Ondo Treasury products, a Société Générale euro stablecoin, and a $1 billion commitment from a UK platform called Archax...

But here's the problem... None of those assets are settling in XRP, they're settling in stablecoins. There's no rational reason to use a volatile token as the settlement medium for a tokenized U.S. Treasury when a dollar-pegged stablecoin can do the job without any price risk...

So when you stack the four use cases together, what you find is that the technical demand for XRP the token is tiny, and what little demand exists is getting outcompeted by stablecoins inside Ripple's own ecosystem…

Here's The Bottom Line On XRP...

Ripple won as a company, RLUSD won as a stablecoin, and XRPL won a slot as one of several blockchains hosting tokenized assets... But the XRP token itself is still searching for a fundamental reason to capture value as this new financial system gets built…

Compare that to the three I just walked you through...

Every tokenized asset created on Ethereum generates real fees that are paid in ETH and partially burned... Every retail trade on Solana requires SOL to pay for transaction costs at scale... And every cross-chain transfer secured by Chainlink consumes LINK to compensate the oracle nodes doing the work...

There's a direct, measurable loop between real-world usage and token demand for ETH, SOL, and LINK.

That loop simply doesn't exist for XRP at the same scale, and Ripple the company has no real incentive to change that…

Brad Garlinghouse, (the Founder or Ripple and XRP), has cashed out and sold billions of his own XRP tokens over the past few years…

And that’s because there’s no actual use-case for the XRP token in this new system as it stands…

So Here's How To Think About All Three...

Ethereum is the courthouse where the world's most important assets get tokenized and recorded…

Solana is the high-speed trading floor where those tokenized assets get bought and sold by everyday people in 100+ countries…

And Chainlink is the wiring that connects Ethereum to Solana to the banks to the data feeds to everything else, making sure every system is operating on the same accurate information at all times...

Take any one of these three away, and the system doesn't work.

Wall Street is moving onto blockchain rails, and the DTCC just locked in the timeline for launch in October of this year..

ETH, SOL, and LINK are the three pieces of public infrastructure I believe will absorb the largest share of value as this transition unfolds over the next 5 years.

If you want to position yourself for the next phase of this financial transformation, you don't need to chase 100 different alt-coins or guess which obscure token is going to 50x next month.

You just need to understand what's actually being built underneath the surface, and own the assets at the foundation of it…

Sincerely,

Mike Dillard ✞
Follow my verified Instagram.
(I do not have a backup account or use WhatsApp).
Customers: Login Here.