USDC on XRPL: EVM Sidechain Coming
USDC Lands on XRP Ledger
Circle has integrated its USD Coin (USDC) stablecoin onto the XRP Ledger (XRPL) mainnet. This integration provides users and developers with direct access to USDC, eliminating the need for bridging solutions. This is a significant step for XRPL, making it the 22nd blockchain network to natively support USDC.
Key Advantages
- Seamless Integration: Developers can build applications using USDC without relying on third-party bridging tools.
- High-Speed Transactions: Leverage XRPL's known speed and efficiency for USDC transactions.
- Enhanced Security: Benefit from XRPL's robust security model.
Circle's decision highlights their commitment to multi-chain support, following recent USDC launches on World Chain and Sonic. This further strengthens USDC's position as the second-largest stablecoin globally, boasting a market cap of $61 billion.
XRPL's Growing Ecosystem
The XRP Ledger is experiencing significant growth. Recent additions include Ondo Finance's OUSG tokenized money market fund, facilitating transactions using Ripple's RLUSD stablecoin, and Guggenheim Treasury Services' expansion of its Digital Commercial Paper (DCP) platform to XRPL. The DCP platform, already active on Ethereum, has processed over $280 million in issuances.
EVM-Compatible Sidechain on the Horizon
Ripple CTO David Schwartz announced plans to launch an Ethereum Virtual Machine (EVM)-compatible sidechain for XRPL in Q2 2025. This development aims to combine XRPL's speed and low transaction costs with the extensive smart contract capabilities of the Ethereum ecosystem. The sidechain, currently in testnet, will utilize the evmOS software stack and connect to the XRPL mainnet via an Axelar bridge.
Benefits of the EVM Sidechain:
- Expanded Functionality: Access to Ethereum's rich smart contract development environment.
- Increased Interoperability: Seamless transfer of assets between XRPL and Ethereum.
- Enhanced Developer Experience: Familiar EVM environment for developers.
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