The second-largest stablecoin by market cap—USDC—has just gone live on the XRP ledger, according to an X post on June 12 by the company Circle.
With the latest addition of USDC to XRPL, Circle’s stablecoin is now listed on 22 blockchains.
Connecting USDC to XRPL means investors, exchanges, and traders can benefit from XRP’s quick payments and cross-border remittances feature, and easily convert USDC into fiat and vice versa. Along with this, being on the ledger gives USDC holders access to a host of financial apps and services available on the Ripple blockchain, giving them the infrastructure to build their own platform as well.
Circle made its debut on the New York Stock Exchange on June 5th for $69, after upsizing their IPO share offer and increasing the price because of increased demand. On its debut, Circle shares shot up during trading hours and at one point reached as high as $103.75, according to a CNBC report. Cathie Wood’s Ark Invest expressed interest in buying up to $150 million of shares in the IPO, as reported by Coin Headlines earlier.
Source: Yahoo Finance
Circle’s shares were trading at $117.6 at the time of reporting, according to Yahoo Finance.