KEY FACTS: Ripple and Circle have partnered to launch USD Coin (USDC), the world’s second-largest stablecoin with a $61 billion market cap, on the XRP Ledger (XRPL), a decentralized blockchain known for processing over 3.3 billion transactions with no failures since 2012. This integration enhances the XRPL’s capabilities for institutional and retail use cases, leveraging its low-cost, high-speed transactions and native decentralized exchange to support applications like cross-border payments and DeFi liquidity provisioning.

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Source: Circle

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USDC Stablecoin is Launched on the XRP Ledger

Ripple, a leading provider of digital asset infrastructure for financial institutions, and Circle, the global financial technology firm behind the USD Coin (USDC), have announced a strategic partnership to integrate USDC onto the XRP Ledger (XRPL). This collaboration, unveiled on June 12, 2025, is a significant step toward enhancing the utility of the XRP Ledger, expanding on-chain liquidity, and unlocking new opportunities for decentralized finance (DeFi) and institutional blockchain adoption.

USDC on the XRPL is now live! We’re excited to announce that USDC, the world’s largest regulated1 stablecoin, is now available on the XRPL mainnet and accessible to developers, institutions, and users – no bridging required.
Circle Mint and Circle APIs now fully support USDC on the XRPL, making it easy to access USDC liquidity and benefit from the XRPL’s fast and secure network.
Source

The XRP Ledger, a decentralized layer-1 blockchain launched in 2012, is renowned for its efficiency, reliability, and low-cost transaction capabilities. With over 3.3 billion transactions processed without failure or security breaches and support for more than five million active wallets, the XRPL has established itself as a trusted platform for tokenizing and exchanging value, including cryptocurrencies and real-world assets. The integration of USDC, the world’s second-largest stablecoin with a market capitalization exceeding $61 billion, is poised to amplify the ledger’s capabilities and drive broader adoption across institutional and retail use cases.

The partnership between Ripple and Circle is rooted in a shared vision of creating interoperable financial ecosystems that bridge traditional finance and the crypto economy. USDC, a fully reserved stablecoin pegged 1:1 to the U.S. dollar, is now natively supported on the XRPL mainnet, eliminating the need for third-party bridges and simplifying access for developers, institutions, and users. This seamless integration leverages the XRPL’s high-speed transactions and robust security model, enabling a wide range of applications, from cross-border payments to decentralized finance (DeFi) liquidity provisioning.

The XRP Ledger’s native features, such as its decentralized exchange (DEX) and auto-bridging functionality, make it an ideal platform for stablecoin integration. The DEX allows for efficient trading of USDC, with XRP serving as a bridge currency to facilitate seamless transactions between different assets. With transaction costs averaging fractions of a cent and settlement times of 3-5 seconds, the XRPL provides a scalable and cost-effective solution for businesses and developers seeking to leverage USDC for various use cases.

The integration of USDC adds to the XRPL’s growing stablecoin ecosystem, which already includes Ripple’s USD-backed stablecoin, RLUSD, as well as other fiat-backed tokens such as StraitsX Singapore Dollar (XSGD), Schuman Euro (EUROP), and BrazaBank USD (USDB). This expansion is expected to attract new institutional interest and enable innovative applications, including enterprise B2B payments, remittances, and decentralized financial services.

Circle’s infrastructure further enhances the accessibility of USDC on the XRPL. Through Circle Mint and its APIs, developers and institutions can easily mint, redeem, and transact with USDC, benefiting from the ledger’s fast and secure network. This streamlined access to liquidity is anticipated to reduce settlement times and improve efficiency for a wide range of financial applications.

Both Ripple and Circle have prioritized regulatory compliance, positioning their partnership as a cornerstone for building a trusted and transparent Web3 ecosystem. USDC, issued by Circle Internet Financial Ltd., is backed by a reserve of U.S. dollar deposits, U.S. government bonds, and cash equivalents, with monthly attestation reports ensuring transparency. Ripple, which has been navigating a high-profile lawsuit with the U.S. Securities and Exchange Commission (SEC) since 2020, has similarly emphasized compliance in its operations, particularly with the launch of its RLUSD stablecoin in late 2024.

The integration of USDC on the XRPL comes at a time of significant growth for both companies. Circle’s recent initial public offering (IPO) on the New York Stock Exchange was a resounding success, with its stock (CRCL) reaching a $27 billion market valuation. Meanwhile, Ripple continues to expand its global payments network, RippleNet, which has processed over $70 billion in payments volume across 90+ payout markets, representing more than 90% of daily foreign exchange market coverage. The company plans to use USDC alongside RLUSD in its flagship Ripple Payments solution, further enhancing its offerings for cross-border transactions.

The launch of USDC on the XRPL is expected to catalyze a range of new use cases for both institutional and retail users. For institutions, the integration supports enterprise-grade applications such as global money movement, B2B payments, and settlement for decentralized applications. Retail users, including digital wallets and exchanges, can leverage USDC for seamless onramps and offramps between fiat and crypto, as well as DeFi services like liquidity provision.

The XRPL’s proven track record of reliability, with over a decade of uninterrupted performance and a network of more than 200 validators, makes it a strong foundation for these applications. The ledger’s consensus protocol, which relies on a supermajority of trusted nodes to validate transactions, ensures security and transparency without the energy-intensive mining processes associated with proof-of-work blockchains like Bitcoin.

Recent developments within the XRPL ecosystem further underscore its growing momentum. On June 11, 2025, Ondo Finance announced the integration of its tokenized money market fund, OUSG, on the XRPL, enabling subscriptions and redemptions via RLUSD. Additionally, Guggenheim Treasury Services expanded its Digital Commercial Paper (DCP) platform to the XRPL, with Ripple committing $10 million to explore its potential for payments. These initiatives highlight the ledger’s increasing relevance in institutional finance and tokenized asset markets.

As stablecoins continue to play a pivotal role in global currency flows, the collaboration between Ripple and Circle is expected to drive significant advancements in blockchain interoperability, regulatory compliance, and financial innovation. Despite a 9.1% decline in Circle’s stock price on June 12, 2025, following the USDC integration announcement, analysts remain optimistic about the long-term potential of the partnership. The XRPL’s growing ecosystem, coupled with Circle’s robust user base and regulatory framework, could position both companies to capture significant market share in the stablecoin and DeFi sectors.

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Information Sources:

• Circle Blog
• Ripple Press
• Cointelegraph

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