Circle Launches USDC Stablecoin on XRP Ledger, Tapping into the Network's High-Speed Transactions

Circle has launched its flagship stablecoin, USD Coin (USDC), on the XRP Ledger (XRPL) mainnet, tapping into the network's high-speed transactions and trusted security model.

Popular cryptocurrency exchange Key Takeaways:Circle has launched its flagship stablecoin, USD Coin (USDC), on the XRP Ledger (XRPL) mainnet, tapping into the network’s high-speed transactions and trusted security model, said the company in a Thursday statement.

Users and developers can now easily build applications using USDC and begin leveraging its use cases on XRPL. This move eliminates the need for third-party tools or cross-chain bridges to bring USDC from another network to XRPL.

With this launch, XRPL becomes the 22nd blockchain network to natively support the stablecoin. It follows Circle’s continued push for multi-chain support, with USDC recently debuting on World Chain, co-founded by Sam Altman, and Sonic, backed by Andre Cronje.

The stablecoin is now available for use in enterprise B2B payments, DeFi applications, and consumer-facing financial services.

“[This launch] underscores Circle's commitment to enabling the best blockchain technologies and services for a money of the future that is open, efficient, and accessible to everyone,” said Jeremy Alvich, co-president of Circle.

“We are excited to see what developers and institutions will build with USDC on the XRP Ledger.”

XRPL is now the 22nd blockchain network to natively support USDC. Photo: Ben Cooper via Unsplash

At a $61 billion market cap, USDC is the world’s second-largest stablecoin, only trailing Tether’s USDT, which has reached a market cap of over $155 billion, according to CoinGecko.

Meanwhile, several promising developments have emerged around the XRP Ledger in recent days.

Ondo Finance also introduced its tokenized money market fund OUSG on the XRP Ledger on Wednesday, facilitating subscriptions and redemptions using Ripple’s RLUSD stablecoin.

The expansion provides access for qualified and institutional investors and marks the fourth blockchain platform to support OUSG, following Ethereum, Polygon, and Solana. OUSG is a leading tokenized US Treasury with a significant market presence valued at $692 million.