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Circle Launches Native USDC on XRP Ledger

The integration of USDC on the XRP Ledger enhances cross-chain transfers and liquidity, reflecting a growing trend in stablecoin adoption amidst regulatory scrutiny.

XRP

Summary

Circle’s USDC stablecoin has officially launched on the XRP Ledger, enabling users to utilize XRP as a bridge currency for cross-chain transfers. This integration comes as U.S. regulators increase their focus on stablecoins, which now have a market capitalization exceeding $237 billion. Ripple aims to position XRP as a key liquidity bridge while discussions around dollar-pegged and gold-backed stablecoins intensify.

Terms & Concepts
  • USDC: USD Coin, a regulated stablecoin issued by Circle, pegged to the US dollar, facilitating digital transactions.
  • XRP Ledger (XRPL): A decentralized blockchain designed for fast and low-cost transactions, primarily used for cross-border payments.
  • Stablecoin: A type of cryptocurrency designed to maintain a stable value by pegging it to a reserve asset, such as fiat currency or commodities.