Company #Circle announced that $USDC , the second largest stablecoin by market capitalization, is now available on the XRP Ledger for developers, institutions, and users.
The announcement came just a month after reports surfaced that #Ripple planned to acquire Circle, rumored to be a bid of around $5 billion, and according to some sources, $20 billion. However, both companies later denied this information.
Last week, Circle successfully went public - the company raised $1.1 billion - nearly twice what it had planned, on the first day Circle's stock closed at $83, up 167% from the IPO price of $31, and on Wednesday trading closed at over $115.
Circle Mint and Circle API now fully support $USDC on XRPL, simplifying access to USDC liquidity and allowing users to take advantage of the fast and secure XRPL network.
Support for new use cases
Exchanges, digital wallets, institutional traders, and developers can use USDC on XRPL through Circle Mint and Circle API for various purposes
Payments and cross-border transfers: streamline global payments and real-time transfers, ensuring seamless operations for businesses and consumers.
DeFi and financial services: creating decentralized financial applications and products, including trading, swaps, and lending services.
On/off ramps: provide easy access to USDC from fiat currencies with low fees, ensuring a smoother entry for new users.
