Wall Street’s Tests The Blockchain: XLM, XRP & HBAR In Focus

The host of a recent crypto analysis YouTube video argues that a quiet structural shift in U.S. market infrastructure could put four tokens — XLM, XRP, ONDO and HBAR — at the center of Wall Street’s first serious move onto public blockchains.

The focus is the Depository Trust & Clearing Corporation (DTCC), the core settlement utility behind “almost every single stock trade in America,” which Fire Hustle claims is days away from live tokenization pilots that could eventually touch more than $100 trillion in assets it services.

According to the the popular crypto market analyst, the DTCC plans to begin “limited production trades” in July, involving tokenized versions of major U.S. assets: shares of the 1,000 largest corporations, big ETFs and U.S. Treasuries.

A broader rollout is described as coming in October, with part of the system — the portion that runs on a public chain — not expected until the first half of next year.

Fire Hustle frames this against a parallel regulatory move. The U.S. Securities and Exchange Commission has proposed scrapping what she calls a “roughly 20‑year‑old rule” that has been one of the main obstacles to letting stocks trade directly on blockchains.

Some Democrats are already calling the change “one of the biggest unlocks this whole sector has ever seen.” The overlap of DTCC’s technology pilot and a simultaneous rewrite of the rulebook is presented as the key inflection point.

On the crypto side, the DTCC reportedly selected Stellar, the network behind XLM, as its first public blockchain partner because of its built‑in compliance controls.

When that news surfaced, XLM jumped more than 30% in a day, though he stresses those gains arrived before any real trades have settled on-chain.

XRP’s role is more indirect but still close to the action, according to the video. Ripple (via Ripple Prime) is described as one of more than 50 firms in a DTCC working group alongside BlackRock and JPMorgan.

Fire Hustle also cites a DTCC patent that explicitly maps the XRP Ledger to high‑speed settlement workflows, and a recent test where Ripple participated in the first cross‑border settlement of tokenized U.S. Treasuries alongside JPMorgan and Mastercard.

ONDO is portrayed as the “purest tokenization play” in the group. The project already offers tokenized exposure to more than 200 U.S. stocks — including Apple, Tesla and Nvidia — with “well over a billion dollars” in value locked, the analyst says.

ONDO is also in the DTCC working group and took part in the same tokenized Treasuries settlement test with Ripple and JPMorgan.

However, the YouTube video points out a structural caveat: holding the ONDO token does not automatically entitle investors to a share of the platform’s revenues, and a large token unlock in early 2027 could pressure price.

HBAR, via the Hedera network, is not part of the DTCC pilot but is described as riding the same tokenization wave through separate banking relationships.

Fire Hustle highlights more than $10 billion in real‑world asset settlement volume processed on Hedera with institutions like Lloyds, and notes its governance council includes Google, IBM and FedEx. Like Stellar, Hedera emphasizes permissioned controls and enterprise‑grade compliance.

She also notes that major incumbents beyond DTCC are moving in parallel: Coinbase has publicly signaled plans to list tokenized stocks when rules allow, Nasdaq has filed a proposal that leans on the DTCC pilot, and the New York Stock Exchange is building its own version.

At the same time, large trading firms such as Citadel Securities are reportedly pushing back, warning tokenization could drain liquidity from traditional markets — a sign that she sees as a real competitive threat.

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