Circle expands USDC to the XRP Ledger of Ripple

Circle, a publicly traded cryptocurrency company in the United States, has expanded the scope of its stablecoin USD Coin ( USDC ) to the XRP Ledger (XRPL), adding another blockchain to its growing ecosystem, according to a statement on June 12. On-chain data shows that assets worth approximately 2 million USD have been minted on the network as of the time of the press release. This expansion follows the recent integration of Circle with USDC into World Chain through the upgraded cross-chain transfer protocol (CCTP V2). With this release, USDC now operates natively on 22 blockchains. USDC on XRPL According to Circle, the presence of USDC on the XRPL mainnet allows developers, businesses, and users to easily access this asset. This integration removes the need for third-party bridges, streamlining the use of USDC on the ledger. Circle Mint and its APIs now support USDC transactions on XRPL, enhancing liquidity accessibility and reducing settlement times. Circle has observed many use cases for USDC on XRPL, including business payments, providing liquidity in DeFi, and payments for decentralized applications. USDC is the second largest stablecoin backed by the US dollar, with a market capitalization of over $61 billion, according to data from CryptoSlate. Over 73% of this supply is based on Ethereum and Solana, two blockchain networks known for the dominance of stablecoins. The developing stablecoin ecosystem of XRPL Following Circle's move, XRPL is currently hosting five types of stablecoins backed by fiat, including USDC, XSGD, EURØP, RLUSD, and USDB. Ripple believes that the presence of these stablecoins will boost the interest of new institutions and open up new use cases for the blockchain network. According to the company: "When these stablecoins launch, expect new financial use cases to flourish—from DeFi lending markets and profitable savings products to foreign exchange, payroll, and cross-border treasury flows." XRP, the native token of the ledger, remains an important part of the ecosystem by facilitating liquidity, accelerating payment processes, and serving as a bridge between different assets on the decentralized exchange (DEX) of XRPL. Ripple also notes that XRPL will continue to implement compliance-ready features aimed at regulated financial markets. According to the company, tools such as Permissioned Domains, Credentials, and Multi-Purpose Tokens (MPT) are helping to position XRPL as a platform for tokenized real-world assets.