Anodos Finance CEO Panos has explained why the company is expanding to Solana after spending three years building products for the XRP Ledger (XRPL).
He cited delays in delivering key network features, missing integrations, and limited support for developers as major obstacles to the company’s plans for a financial super app.
Although the move represents a strategic shift toward Solana, Panos stressed that Anodos Finance will continue supporting the XRPL and keeping XRP at the center of its strategy.
Panos Cites Delays in XRPL Development
Panos said in his tweet that Anodos Finance spent more than a year discussing ecosystem improvements with Ripple and other participants before deciding to expand to another blockchain. According to the CEO, the company received several promises but has yet to see most of them delivered.
He described corporate bureaucracy, missed deadlines, and a lack of urgency as persistent challenges. Panos also noted that Anodos Finance participated in Ripple’s XRPL accelerator program last year alongside nine other projects. He claimed that Anodos Finance is the only one of the ten still actively building on XRPL, presenting this as a sign of the difficulties developers face.
Batch transactions and sponsored fees remain among his main concerns. Panos explained that batch transactions would help consumer applications simplify complex blockchain operations, while sponsored fees and reserves would reduce the barriers for people unfamiliar with cryptocurrency.
However, he said developers have faced indefinite delays for batch transactions and are still waiting for sponsored fees, which he expected to reach a voting stage in the first quarter.
Missing Integrations Affect Anodos Finance’s Plans
Panos also identified gaps in payments, liquidity, and access to financial assets as obstacles to launching the company’s planned consumer application.
He claimed Anodos Finance had discussed integrating Visa payment rails with Ripple and that Visa had expressed openness to settling transactions on XRPL using RLUSD. However, he alleged that Ripple did not follow through with the necessary work.
The CEO added that XRPL still lacks several integrations and resources Anodos Finance wants for its financial products, including additional on- and off-ramps, card issuers, tokenized real-world assets, yield-bearing stablecoins, and deeper decentralized exchange liquidity.
Panos said these limitations prevented the company from launching its planned super app last year. He also stated that Anodos Finance has yet to earn revenue from the products it built on XRPL because batch transactions remain unavailable.
Why Anodos Finance Chose Solana
Panos described Solana as a more complete ecosystem for the company’s immediate needs, citing its liquidity, existing integrations, decentralized finance applications, and support for developers.
He also noted that Solana has expanded beyond meme coins and trading into decentralized finance and real-world asset markets. According to Panos, discussions have made little progress for more than a year, while discussions with the Solana Foundation progressed within days.
Nevertheless, he clarified that Anodos Finance is not abandoning XRPL. Its existing decentralized exchange, developer sandbox, testnet tools, passkey wallet, and infrastructure contributions will remain available.
Financial Super App Remains the Priority
Panos said the financial super app will become Anodos Finance’s main focus, with most development taking place on Solana. The company will continue monitoring XRPL developments and the planned Axelar bridge connecting the two ecosystems.
He added that XRP will remain central to the company’s strategy, noting that its availability on Solana creates opportunities to develop additional features for XRP holders.
Panos ultimately wants the application to combine banking, saving, spending, investing, lending, and access to assets such as stocks, commodities, and real estate across multiple networks.
He concluded that users should not need to understand the underlying blockchains, bridges, or transaction fees to access these services. Instead, Anodos Finance intends to prioritize self-custody, privacy, censorship resistance, and a straightforward user experience as it pursues broader DeFi adoption.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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