In a recent conversation with Scott Melker, Charles Hoskinson, CEO of Input Output Global, said that XRP DeFi is “coming.”
“Midnight connects us to all the other blockchains, and we add privacy to all of these connection points, so we have a lot to add and offer,” he said.
The Privacy Layer
Cardano launched its partner chain, Midnight, in late 2025. It uses Zero-Knowledge (ZK) cryptography to enable private smart contracts.
Hoskinson proposed wrapping XRP at midnight. This allows XRP holders to use their coins in complex DeFi applications (lending, borrowing, yield farming) while being able to keep transaction data private. This is something public XRPL cannot do alone.
This aims to unlock over $100 billion in unused XRP liquidity. Midnight could become the “privacy layer” of the XRP ecosystem.
In December, Hoskinson also surprisingly reached out to the XRP community, asking for a list of “top 15 projects” to invite to a collaborative DeFi summit at the University of Edinburgh.
Input Output Global (IOG) is committed to integrating native support for XRP into Lace (the official Cardano wallet).
