Circle announced today that USDC is live on the XRP Ledger (XRPL) mainnet. This native integration is accessible to developers, institutions, and users with no bridging required.
In addition to usability upgrades, this partnership will facilitate both firms’ long-term focus on bringing crypto to the world economy. Combining regulatory compliance and massive user bases, Ripple and Circle are building a future for Web3.
XRP Ledger Continues to Host More Stablecoins
Since Circle’s landmark IPO was such a major success, the stablecoin issuer has new flexibility to expand its network functionality.
USDC’s cross-chain trading reached an all-time high earlier this month, but Circle’s decision to integrate the asset with XRPL could boost it even further:
According to the official announcement, the firm’s XRPL integration includes several novel features. Circle Mint and Circle APIs now fully support USDC on the XRPL, making it easy to access USDC liquidity and benefit from the XRPL’s fast and secure network.
Exchanges, digital wallets, institutional traders, and developers can also leverage USDC for several purposes. By using Circle Mint and APIs on the XRPL, these firms and individuals can access DeFi financial services, send payments across borders, and enjoy easy onramps and offramps from USDC to fiat.
Although Ripple recently denied claims of an attempted Circle buyout, it has plenty to gain from integrating USDC on the XRPL. The company is trying to massively expand, aiming to control 14% of global SWIFT liquidity by 2030.
Circle has a massive global user base, and this partnership brings several benefits to Ripple:
“Stablecoins are key entry points connecting traditional financial markets. Regulated stablecoins like USDC coming to the XRPL will enable new institutional and retail use cases by leveraging the ledger’s built-in capabilities for compliance, tokenization, low-cost settlement, and seamless on/off-ramps,” claimed Markus Infanger, Senior Vice President at RippleX.
As stablecoins become a bigger component of global currency flows, partnerships like Circle’s XRPL integration could serve as key building blocks.
Both firms are reaching new levels of compliance with US and international regulators, and this will further support these ambitious goals.
Ultimately, today’s partnership will allow more institutions that use Ripple’s global payment system to utilize stablecoins for even faster settlements.
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