Hedera (HBAR) and XRP Enter the Picture as BankSocial Unveils a Multichain Strategy

John Wingate, CEO of BankSocial and Hedera developer, recently sparked excitement in the XRP community after revealing that he had a meeting with Ripple's team.

John Wingate, CEO of BankSocial and Hedera developer, recently sparked interest in the XRP community with an update on a meeting with Ripple's team.

In a post on X, originally shared on May 23, Wingate described the encounter as possibly "the greatest meeting in the history of international settlements."

This dramatic language suggests a game-changing collaboration could be unfolding, potentially involving Ripple, Hedera, and BankSocial.

HBAR Remains Core, But XRP Enters the Picture

While reaffirming that Hedera and its native token HBAR remain a major part of BankSocial's strategy, Wingate confirmed a new addition: XRP.

This marks an evolution in BankSocial's roadmap, suggesting an effort to leverage HBAR's enterprise-grade speed and XRP's liquidity and cross-border settlement capabilities.

In response to a commenter who asked how Ripple, Hedera, and BankSocial fit together, Wingate further elaborated:

According to Wingate, these projects jointly create “a new financial paradigm.”

This layered integration suggests an ambitious approach to decentralized finance, where each token plays a specialized role in building next-generation global financial infrastructure.

No because uncle Joe knows. 😉$HBAR for backend ops – state checks – app nets (HCS)$XRP for international money movement into certain jurisdictions.$BSL – for loans/lending/staking and social governance around the DAO.

Together they create a new financial paradigm.

— John Wingate (@PresidentHODL) May 24, 2025

The Billion-X Vision for XRP

Wingate concluded his original post with a challenge: "You're not thinking BIG enough. Think BIG, then 1,000,000,000x it."

This hints at a vision of monumental proportions, envisioning a cross-chain financial infrastructure that unites banks, blockchains, and global institutions.

While no formal partnership between Ripple and BankSocial has been announced, Wingate's tweet indicates that XRP is becoming a key part of a strategy previously focused on Hedera.

This aligns with a May 19 post on X where BankSocial replied, "Multichain. XRP too," to a tweet promoting their upcoming platform, which will enable users to buy crypto and stocks directly from their bank and credit union accounts.

The platform, built on Hedera, now appears to expand its blockchain support to include the XRP Ledger.

Past Hints at Dual-Chain Strategy

Meanwhile, this isn't the first time Wingate has hinted at a multichain strategy. In a March tweet, he shared that BankSocial is working with financial institutions and governments around the world on real-world asset tokenization and money movement.

Both XRP and HBAR are "major components" of the strategy, as he shared. Highlighting the strengths of each asset, Wingate added that XRP and HBAR are members of the DeRec Alliance. This showcases a shared commitment to decentralized infrastructure.

@hedera and @Ripple, we are working with Fi’s and governments worldwide to do things around #RWA tokenization and money movement.

BOTH $XRP and $HBAR are major components of what we are doing. They both have their strengths.

They are both on the @DeRecAlliance

You ready?! pic.twitter.com/qEH818GLc7

— John Wingate (@PresidentHODL) March 19, 2025