Payment Market Lost to Giant Corporations, Let's Turn to the RWA Asset Market, Solana and Ethereum Revived | Seo Dong-ju, Kim Dong-hwan, Kim Jun-woo Xangle CEO

Summary

Xangle CEO Kim Jun-woo dissects the recent Ethereum and Solana rally against the backdrop of institutional blockchain adoption. He argues that corporate chains will capture the low-margin payment market, but the real value driver is the RWA asset market, where neutral public chains like Ethereum and Solana hold a decisive advantage. He also assesses Ripple's strengthening position in settlement infrastructure and points to crypto equities such as Coinbase as an alternative to capture fee growth when tokens are not issued.

• Recent altcoin gains are not a structural signal; underlying regulatory and business shifts continue.
• Corporations building their own chains (Stripe/Tempo, Robinhood L2) reflect a growing market, not an immediate threat to Ethereum.
• The payment and stablecoin settlement sector is naturally suited to efficient, centrally controlled corporate chains.
• The RWA (real-world asset) market demands deep liquidity, neutrality, and composability, favoring Ethereum and Solana.
• Ripple's RLUSD data shows its own chain surpassing Ethereum issuance, indicating strong practical adoption as a neutral settlement rail.
• Investors must now distinguish whether value accrues to a token or a company's equity.
• Without a native token, Coinbase (COIN) is the way to get exposure to the growth of its Base chain.