USDC continues to strengthen its position as a major regulated Stablecoin with its native launch on the XDC network.
summary
- USDC is currently live on the XDC network, allowing for unsecure bridge-free transfers.
- Circle’s CCTP V2 powers cross-chain interoperability with a “burn and mint” mechanism.
USDC will be live on the XDC network
XDC Network (XDC) today announced that USD Coin (USDC), a Circle-issued stablecoin, will be released on the network. With this native launch, XDC’s USDC is not a copy or derivative. This is the same regulations, a 1:1 redemptive digital dollar, used in Ethereum (ETH) and Solana (SOL). This means that users can keep and transfer real USDCs in XDC with full backing from the circle without relying on bridges or wrap tokens.
The power source for this integration is Circle’s Cross-Chain Transfer Protocol V2 (CCTP V2). Instead of wrapping the token, CCTP uses a “burn and mint” mechanism. When a user transfers USD coins from one chain to another, the token is burned in the source chain, verified by Circle’s proof system and just built at the destination. In this case, XDC.
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The existence of USDC cross chains
The addition of XDC further expands the presence of USDC cross-chains, enhancing its role as the most widely adopted regulated stubcoin in multiple ecosystems. USDC is already natively available on 24 networks, including Ethereum, Solana, Polygon, Avalanche, Base, Arbitrum, Stars, and Polka Dots.
The integration of USDC over the XDC network continues at another milestone in Stablecoin. Earlier this month, Circle launched Gateway, enabling USDC transfers adjacent to seven major blockchains: Arbitrum, Avalanche, Base, Ethereum, OP MainNet, Polygon POS and Unichain.
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