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Cointelegraph

Circle expands USDC to OKX ecosystem with X Layer launch

The rollout gives X Layer users access to Circle-issued USDC and crosschain transfers as the stablecoin expands across major blockchain ecosystems.Circle has launched its USDC stablecoin on X Layer, OKX’s Ethereum layer-2 network, extending the stablecoin to an ecosystem connected to one of the world’s largest cryptocurrency exchanges by trading volume.Circle announced Friday that native USDC and…

Photo: Cointelegraph

The rollout gives X Layer users access to Circle-issued USDC and crosschain transfers as the stablecoin expands across major blockchain ecosystems.Circle has launched its USDC stablecoin on X Layer, OKX’s Ethereum layer-2 network, extending the stablecoin to an ecosystem connected to one of the world’s largest cryptocurrency exchanges by trading volume.

Circle announced Friday that native USDC and its Cross-Chain Transfer Protocol (CCTP) are now available on X Layer. The network is compatible with the Ethereum Virtual Machine (EVM), allowing applications built for Ethereum to run on it with relatively few changes.

CCTP allows USDC to move between X Layer and other supported blockchains by burning the tokens on the source chain and minting an equivalent amount on the destination chain. The integration supports uses including payments, decentralized finance lending and borrowing, trading and crosschain transfers.

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Originally published by Cointelegraph. Read the full story at the source →

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