- Versan Aljarrah argues that global debt is unsustainable and must be restructured rather than repaid under the current system.
- He envisions liabilities converted into tokenized assets, with XRP, gold, and stablecoins serving as neutral settlement layers.
- Aljarrah says financial cycles reward early movers, urging preparation before mainstream adoption of tokenized finance takes hold.
Versan Aljarrah, founder of Black Swan Capitalist, has issued a stark warning on the state of global debt, arguing that existing levels are unsustainable and cannot be repaid under the current system.
Instead, he believes a sweeping restructuring is inevitable, and that the solution lies in tokenized liquidity.
“Global debt can’t be paid back. It has to be restructured,” Aljarrah said, pointing to the mounting challenges governments and institutions face in servicing their obligations.
XRP, Gold, and Stablecoins as Neutral Settlement Assets
Aljarrah outlined what he described as the “real play” in this coming restructuring: the conversion of trillions of dollars in liabilities into tokenized assets running on neutral settlement layers. Among these, he highlighted XRP, tokenized gold, and regulated stablecoins as the critical assets that could underpin the new financial framework.
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Global debt can’t be paid back. It has to be restructured.
The real play is converting trillions into tokenized liquidity running on neutral assets like XRP, tokenized gold, and regulated stablecoins.
Cycles reward those who prepare before the narrative, not after. pic.twitter.com/pEYIswQ9jd
— Black Swan Capitalist (@VersanAljarrah) September 25, 2025
The argument builds on XRP’s role in cross-border liquidity and settlement, combined with the stability of gold and the growing regulatory acceptance of stablecoins. Together, these instruments represent what Aljarrah sees as the foundation for a restructured, tokenized global economy.
The Black Swan Capitalist founder stressed the importance of foresight, suggesting that cycles in finance consistently reward those who act before mainstream narratives form.
“Cycles reward those who prepare before the narrative, not after,” he wrote, positioning XRP and other neutral assets as tools for investors seeking to front-run structural changes.
The Bigger Picture
Aljarrah’s comments arrive amid renewed debate around the sustainability of sovereign debt markets and the rapid institutional push toward tokenization.
With global liquidity demands rising and regulatory frameworks for digital assets maturing, his perspective adds weight to the idea that blockchain-based settlement mechanisms could soon become central to international finance.
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