Circle’s USDC stablecoin is now live on XRP Ledger, following its launch on World Chain, boosting DeFi and institutional adoption.
In addition to the native RLUSD, the XRP Ledger (XRPL) is now home to more stablecoins. Circle, the issuer of USDC, announced the expansion of its stablecoin USDC to the network just one day after it was launched on the World network.
USDC Debuts on the XRP Ledger
Circle announced in a blog post that its USDC stablecoin is now operational on the XRPL mainnet, eliminating the need for a bridge and enabling developers, institutions, and users to access it. In addition, the stablecoin issuer has announced that the Circle Mint and Circle APIs now fully support USDC on the network. This facilitates the acquisition of USDC liquidity and the utilization of the network’s security and speed.
The USDC stablecoin is now natively available on 22 blockchains due to the most recent expansion to the XRP Ledger. Circle has recently integrated the stablecoin into World Chain using the Cross-Chain Transfer Protocol V2 (CCTP V2).
The introduction of USDC on the XRPL offers a variety of applications, such as B2B payments, DeFi liquidity provisioning, and a settlement option for decentralized applications on the network.
The Ripple Developer X account also commented on the launch of the USDC stablecoin on XRPL. They observed that the future is interoperable as Ripple and Circle collaborate to introduce the fully reserved, 1:1-backed stablecoin to the network. This initiative will expedite the implementation of DeFi and institutional solutions.
The XRP Ledger also supports stablecoins such as Ripple’s RLUSD, Braza Group’s USDB, and BBRL. The EURØP stablecoin, which is issued by the European firm Schuman Financial, is also accessible on the network.
The US Senate has recently advanced the stablecoin measure, which has significantly boosted stablecoins. The GENIUS Act advanced after the senators invoked cloture, with a vote of 68 to 30 in favor of the measure, as CoinGape reported.
