Circle, the company behind USDC, which recently became a publicly traded entity, announced that its stablecoin has now gone live on Ripple’s XRPL.
According to the statement , the self-described world’s largest “regulated” stablecoin is already accessible to developers, institutions, and users, without requiring a bridge.
The announcement comes just a month after reports emerged that Ripple plans to acquire Circle, with rumors indicating an offer of around $5 billion. However, this information was later refuted by the former’s CEO, Brad Garlinghouse.
USDC’s introduction on Ripple’s layer-1 network enables it to be used for global money movement, in financial infrastructure apps, and for liquidity provision in DeFi.
XRPL’s addition brings the total number of blockchains on which USDC is available to 22.
Recall that following years of planning and delays, Circle finally became a public company earlier this month after raising $1.1 billion in its IPO. The company’s stock price shot up after going live and closed on Wednesday at over $115.
