USDC Coin (USDC) Is Now Live on the XRP Ledger (XRPL) Mainnet

USDC Coin (USDC), the second-largest stablecoin by market cap, is now live on the XRP Ledger mainnet, according to a Wednesday announcement.

The second-largest stablecoin, USDC Coin (USDC), is now available on the XRP Ledger mainnet, according to an announcement on Wednesday.

After a surprising integration, developers and institutions can now mint and redeem USDC tokens on XRPL.

According to CoinGecko data, USDC currently has a market cap of $61 billion. For comparison, Tether (USDT) comes in first place with a whopping $155 billion.

Other than XRPL, Circle’s USDC is also supported on 21 other native blockchains such as Ethereum, Solana, Algorand, Stellar, Hedera, Base, and other networks.

Last year, Ripple also made a move into the hot stablecoin sector with the launch of its own highly regulated RLUSD stablecoin. The token, which competes directly with USDC, currently has a rather modest market cap of $413 million.

Cicle acquisition rumors

As reported by U.Today, it was rumored that Ripple was attempting to buy Circle for $5 billion. However, the offer was rejected for being too low.

It is worth noting that Circle denied that it was having informal acquisition talks on the verge of its initial public offering (IPO).

According to a recent interview with Blockworks, Brad Garlinghouse, CEO of Ripple, stated that his company did not offer as much as $20 billion for the company, putting an end to persistent rumors on social media.

Circle recently had one of the most successful IPO launches, with its shares going on a massive rally.