Circle, a US-based publicly traded crypto firm, has expanded the reach of its USD Coin (USDC) stablecoin to the XRP Ledger (XRPL), adding another blockchain to its growing ecosystem, according to a June 12 statement.
On-chain data shows that around $2 million worth of the asset had been minted on the network as of press time.
This expansion follows Circle’s recent integration of USDC into World Chain through its upgraded Cross-Chain Transfer Protocol (CCTP V2). With this release, USDC now operates natively across 22 blockchains.
USDC on XRPL
According to Circle, USDC’s presence on the XRPL mainnet gives developers, businesses, and users seamless access to the asset.
The integration eliminates the need for third-party bridges, streamlining USDC’s use on the ledger. Circle Mint and its APIs now support USDC transactions on XRPL, improving access to liquidity and reducing settlement times.
Circle sees a broad range of use cases for USDC on XRPL, including business payments, liquidity provision in DeFi, and settlement for decentralized apps.
USDC is the second-largest US dollar-backed stablecoin, with more than $61 billion in market capitalization, according to CryptoSlate’s data. Over 73% of this supply is based on Ethereum and Solana, two blockchain networks renowned for their stablecoin dominance.
XRPL’s growing stablecoin ecosystem
Following Circle’s move, the XRPL now hosts five fiat-backed stablecoins, including USDC, XSGD, EURØP, RLUSD, and USDB.
Ripple believes that the presence of these stablecoins will drive new institutional interest and unlock fresh use cases for the blockchain network.
According to the firm:
“As these stablecoins go live, expect new financial use cases to flourish—from DeFi lending markets and yield-bearing savings products to FX trading, payroll, and cross-border treasury flows.”
XRP, the ledger’s native token, remains a key part of the ecosystem by facilitating liquidity, powering fast settlement, and acting as a bridge between different assets on XRPL’s decentralized exchange (DEX).
Ripple also noted that XRPL will continue to roll out compliance-ready features aimed at regulated financial markets. According to the firm, tools such as Permissioned Domains, Credentials, and Multi-Purpose Tokens (MPTs) are helping position XRPL as a foundation for tokenized real-world assets.
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