Circle's USD Coin (USDC) is now available on the XRP Ledger (XRPL), marking a significant expansion for the dollar-pegged stablecoin.
The integration, announced on Thursday, allows users to leverage XRP as a bridge currency to make transfers between decentralized exchanges (DEXs) through an auto-bridge feature.
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The launch coincides with growing regulatory efforts in the US around stablecoins, which now have a market capitalization of more than $237 billion.
These tokens are typically backed by short-term US Treasury bonds, and issuers benefit from the yield.