XRP News Today: USDC Stablecoin Now Live on Ripple’s XRP Ledger

Circle, the issuer of the USDC stablecoin, has announced that its digital asset is now live on Ripple’s XRP Ledger (XRPL). This development allows developers, institutions, and users to access the world’s second-largest regulated stablecoin without the need for a bridge. The integration enables USDC to be utilized for global money movement, financial infrastructure applications, and liquidity provision in decentralized finance (DeFi) ecosystems.

This move comes just a month after speculation surfaced about Ripple’s potential acquisition of Circle, with rumors suggesting a deal valued around $5 billion. However, Ripple’s CEO, Brad Garlinghouse, later denied these reports. The addition of USDC to the XRPL brings the total number of blockchains supporting the stablecoin to 22, expanding its reach and utility within the cryptocurrency landscape.

Circle recently transitioned into a publicly traded entity after raising $1.1 billion in its initial public offering (IPO). The company’s stock price experienced a significant surge post-IPO, closing at over $115 on the first Wednesday after going live. This milestone underscores the growing interest and investment in stablecoins and the broader cryptocurrency market.

The integration of USDC on the XRPL is a strategic move that enhances the interoperability and functionality of both Ripple’s network and Circle’s stablecoin. It allows for seamless global money transfers, improved capital efficiency, and broader access to financial services. This development is expected to attract more developers and institutions to the XRPL, further solidifying its position as a leading blockchain for enterprise solutions.

According to the statement, the launch of native USDC on the XRPL provides developers, institutions, and users with the support of the world’s largest regulated stablecoin. This integration is part of a broader effort to enhance the utility and adoption of stablecoins in the financial ecosystem. The move is likely to foster innovation in the DeFi space and drive the growth of the global digital economy.