XRP News Today: Uphold Integrates USDC on XRP Ledger for Faster, Cheaper Transactions

Uphold has successfully integrated USD Coin (USDC) on the XRP Ledger (XRPL), marking a significant advancement in the digital finance ecosystem. This integration allows for fast, scalable, and efficient stablecoin transactions, enhancing Uphold's global remittance and financial platform. The move is supported by recent regulatory changes that are increasing the adoption and trust in stablecoins like USDC.
USDC, issued by Circle and backed by fully reserved US dollars, is widely used in payment, trading, and decentralized finance (DeFi). By operating on the XRPL, USDC benefits from the blockchain's high transaction speed and low costs, making it more accessible and applicable on a global scale. This integration is a first for a wallet that supports USDC, enabling direct transfers between XRP Ledger wallets both in and out.
The integration enhances Uphold’s multi-asset platform, positioning it as a leader in speed, fee efficiency, and interoperability. Users can now deposit and withdraw USDC with ease, utilizing it for various purposes such as remittance, personal finance, and business payments. This seamless experience also opens up opportunities for developers and entrepreneurs to create applications or services that leverage USDC on the XRPL, fostering additional blockchain-based monetary ecosystems.
Listing USDC on the XRPL provides a reliable, secure, and stable digital dollar solution within a high-performance blockchain system. As the platform scales, businesses and consumers can enjoy the combined benefits of USDC's price stability and the speed and low costs of the XRPL. This integration is expected to facilitate stable, fast, and efficient transfers of digital money across the globe.
The integration aligns with recent regulatory developments. On June 18, American lawmakers introduced the Genius Act, a bill aimed at establishing a federal regulatory framework for stablecoins like USDC. The act includes stronger licensing, disclosure, and reserve requirements, which will enhance the credibility and reliability of stablecoins in mainstream financial markets. With these regulatory changes, stablecoins like USDC are poised to become more trusted components of global economies, potentially increasing the use of the XRP Ledger for handling regulated digital assets, payments, and DeFi services.
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