The Second Largest Global Stablecoin, USDC, Now Accessible on Ripple's XRP Ledger

Circle, the firm behind USDC, recently declared that its stablecoin is now available on Ripple's XRPL, making it accessible to developers, institutions, and users without needing a bridge. This announcement follows rumors that Ripple was considering acquiring Circle for around $5 billion, a claim later denied by Ripple's CEO.

The integration of USDC into Ripple's layer-1 network allows it to be used for global money transfers, in financial infrastructure apps, and for liquidity provision in DeFi.

This addition brings the total number of blockchains supporting USDC to 22. Circle, after years of planning and postponements, recently became a publicly traded company, raising $1.1 billion in its IPO, and saw its stock price rise to over $115.