USDC, the fully reserved stablecoin issued by Circle, is now live on the XDC Network (XDC), alongside Circle’s Cross-Chain Transfer Protocol V2 (CCTP V2), according to announcements shared on September 17.
The launch enables developers, institutions, and enterprises using the XDC Mainnet to access the world’s largest regulated stablecoin and take advantage of its liquidity for applications such as tokenized trade finance, real-world asset (RWA) tokenization, and enterprise payments.
Expanding stablecoin access on XDC
USDC operates with 1:1 capital efficiency and is used globally for payments, settlements, and liquidity provisioning.
With its integration on XDC, network participants can leverage the stablecoin’s regulated infrastructure alongside the network’s delegated proof-of-stake architecture, which provides near-instant transaction finality and low gas fees.
The addition of CCTP V2 allows USDC to move natively across 15 supported blockchains without relying on wrapped or bridged tokens.
Key use cases and ecosystem impact
USDC on XDC is expected to support a range of financial applications, including settling tokenized invoices and letters of credit in global trade finance, issuing and exchanging tokenized assets such as treasuries and private credit, and enabling low-cost, cross-border B2B transactions.
Day-one partners of the integration include Fireblocks and SBI XDC Network APAC, as highlighted in the launch announcement. The XDC ecosystem currently includes more than 175 apps, protocols, and participants, according to the XDC Foundation.
USDC currently has over $72.5 billion in circulation as of September 16, and with its addition, XDC joins the list of 26 blockchains supporting the stablecoin natively.
Featured image via Shutterstock.
Source: https://finbold.com/usdc-and-cctp-v2-go-live-on-xdc-network/
