Circle Launches USDC on XRP Ledger, Unlocking New Utility for XRP Ecosystem

In a highly anticipated and potentially market-changing development, Circle has officially announced the launch of USDC on the XRP Ledger (XRPL), expanding the stablecoin’s reach to one of the longest-running Layer-1 blockchains. The move enables developers, institutions, and users to access USDC on the XRPL mainnet without the need for bridges or third-party wrappers, marking a key step toward deeper stablecoin utility across the ecosystem. The XRP Ledger has steadily expanded its capabilities over the years, attracting a growing community of developers and institutions focused on building real-world financial applications. The eyes of the crypto world are currently on the stablecoin market due to the Genius Act . This recent move by Circle has further expanded XRP’s reach into this sector of the market. A Highly Anticipated Development In early 2024, Panos Mekras, a popular figure in the XRP community, shared a response from Circle revealing that it had no plans to launch USDC on the XRP Ledger, although it was looking for ways to expand the reach of the stablecoin. Mekras and many community members called on Ripple to step in and make it happen, and this development shows that Ripple listened to its community. New Utility for the XRP Ledger USDC is the second-largest and largest regulated stablecoin in the crypto market. Circle’s announcement revealed that it is now supported on XRPL via Circle Mint and Circle APIs. This offers streamlined access to USDC liquidity, leveraging XRPL’s high-speed, low-cost, and secure transaction environment. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 The XRPL has been live since 2012 and has processed over 3.3 billion transactions to date. Its focus on efficient value exchange has attracted projects in sectors ranging from remittances to real-world asset tokenization. With native USDC support, developers can now build and deploy new use cases across payments, DeFi, and financial infrastructure directly on XRPL. Impact on XRP and the Broader Ecosystem Ripple recently attempted to acquire Circle for $5 billion, but the offer was turned down. The company pressed on, and recent reports suggest the offer has been increased to the $9 to $11 billion range , outbidding Coinbase. This massive launch suggests something positive might materialize from Ripple’s attempts to acquire the company. Ripple is already making major progress in the stablecoin space with RLUSD, and this move represents a meaningful expansion of the ledger’s capabilities, positioning it as a more competitive platform for financial and enterprise-grade applications. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post Circle Launches USDC on XRP Ledger, Unlocking New Utility for XRP Ecosystem appeared first on Times Tabloid .

Source: TimesTabloid