USDC solidifies its position as the premier regulated stablecoin with its official launch on the XDC Network.
Summary
- USDC is now accessible on XDC Network, facilitating secure, bridge-free transfers backed 1:1 by Circle.
- Circle’s CCTP V2 enables cross-chain interoperability through a “burn and mint” mechanism.
USDC Launches on XDC Network
The XDC Network (XDC) has revealed that USD Coin (USDC), the stablecoin issued by Circle, is officially launching on its platform. This native integration ensures that USDC on XDC is not a replica or variation but the same regulated, redeemable digital dollar that is utilized on Ethereum (ETH) and Solana (SOL). Users can now securely hold and transfer authentic USDC on XDC with full backing from Circle, eliminating the need for bridges or wrapped tokens. This enhancement guarantees faster, more secure transfers, and seamless integration into various applications.
Facilitating this integration is Circle’s Cross-Chain Transfer Protocol V2 (CCTP V2). Rather than employing token wrapping, CCTP utilizes a “burn and mint” mechanism. Whenever a user transfers USD Coin from one chain to another, the tokens are burned on the source chain, verified by Circle’s attestation system, and freshly minted on the destination chain—in this case, XDC.
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USDC’s Growing Cross-Chain Presence
The inclusion of XDC further expands USDC’s cross-chain presence, reinforcing its status as the most widely adopted regulated stablecoin across various ecosystems. USDC is already seamlessly available on 24 networks, including Ethereum, Solana, Polygon, Avalanche, Base, Arbitrum, Stellar, and Polkadot.
The integration of USDC on the XDC Network follows another significant achievement for the stablecoin. Recently, Circle introduced Gateway, facilitating instantaneous USDC transfers across seven major blockchains, including Arbitrum, Avalanche, Base, Ethereum, OP Mainnet, Polygon PoS, and Unichain.
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