[DigitalToday reporter Jinju Hong] Cardano founder Charles Hoskinson (찰스 호스킨슨) publicly praised rival project Ripple's business execution and long-term staying power. He said its continued product launches and expansion of institutional business, despite criticism and regulatory risks in and outside the industry, deserve recognition.

On July 4 (local time), blockchain outlet Decrypt reported that Hoskinson appeared on the podcast 'The Breakdown' and said Ripple has continuously expanded its business over the past decade or so regardless of market conditions.

He cited steady product launches, large partnerships and expanded business for institutions as Ripple's strengths. He pointed to the dollar-pegged stablecoin RLUSD, launched in January 2024, and the acquisition of prime brokerage firm Hidden Road as key examples.

Ripple acquired Hidden Road this year for about $1.25 billion and then reorganised it into an institutional service called Ripple Prime. Hoskinson said the move was not just a service expansion but a long-term strategy targeting the institutional finance market.

He also praised Ripple's network built with the traditional financial sector. He said Ripple has secured hundreds of banks and financial institutions as partners over the years, and that many of them use Ripple's payments infrastructure for cross-border remittances and settlements. He added that Ripple Payments plays a key role in expanding its global payments business.

Ripple Chief Executive Brad Garlinghouse (브래드 갈링하우스) recently said in a CNBC interview that Ripple handles about $16 trillion a year in payments and clearing worldwide.

Hoskinson stressed that a project surviving in the market for a long time is not an accident. He said the fact that Ripple has kept its business going for more than 12 years through multiple bull and bear markets, regulatory changes and worsening investor sentiment shows its execution.

Hoskinson has previously taken a friendly stance toward Ripple. He positively assessed Ripple's partial win in its lawsuit with the U.S. Securities and Exchange Commission, and has also said the unique node list structure of the XRP community and the XRP Ledger is a reasonable design.

He said his remarks extended beyond a single project to a message for the broader cryptocurrency industry. Hoskinson said a project's value comes from steady development, product launches, user acquisition and expanded partnerships rather than short-term price gains, and stressed that "you have to keep building even if you get criticised."

Cardano also faces challenges, including recent governance controversy, the closure of some ecosystem projects and developer departures. Still, Hoskinson said it is preparing the biggest upgrade in Cardano's history, backed by the Leios testnet, Midnight and a Bitcoin DeFi strategy.

In the industry, some see the remarks as showing what it takes for a blockchain project to remain competitive over the long term, beyond a simple assessment of Ripple. Hoskinson's message is that execution - continuing to launch products, securing institutional customers and expanding the business in line with market changes - ultimately determines a project's survival.