USDC continues to strengthen its position if the leading regulated stablecoin with a native launch on XDC network.
Summary
- USDC is now live on the XDC network, so that safe, bridge-free transfers can be supported 1: 1 per circle.
- Circle’s CCTP V2 feeds interoperability of the cross -chain with a “burn and mint” mechanism.
USDC goes live on XDC network
XDC Network (XDC) today announced that USD Coin (USDC), the Stablecoin issued by Circle, is launched on its network. With this native launch, USDC is not a copy or derivative on XDC – it is the same regulated, 1: 1 interchangeable digital dollar used on Ethereum (ETH) and Solana (SOL). This means that users can hold real USDC on XDC and transfer it with full back of the circle, without trusting bridges or packaged tokens, making transfers more, faster and easier to integrate into apps.
Driving this integration is Circle’s Cross-Chain Transfer protocol V2 (CCTP V2). Instead of wrapping tokens, CCTP uses a “fire and mint” mechanism. When a user transmits USD coin from one chain to another, the tokens are burned on the bronzet, verified by Circle’s Aattestation System, and freshly beaten at the destination – in this case XDC.
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USDC cross-chain presence
The addition of XDC further expands the cross-chain presence of USDC, which enhances the role as the most adopted regulated stablecoin over multiple ecosystems. USDC is already native available on 24 networks – including Ethereum, Solana, Polygon, Avalanche, Base, Arbitrum, Stellar and Polkadot.
The integration of USDC on the XDC network follows another milestone for the Stablecoin. Earlier this month, Circle Gateway launched, making immediate USDC transfers possible over seven large block chains, namely Arbitrum, Avalanche, Base, Ethereum, on Mainstet, Polygon Pos and Unichain.
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