Circle expands USDC to OKX ecosystem with X Layer launch
The rollout gives X Layer users access to Circle-issued USDC and crosschain transfers as the stablecoin expands across major blockchain ecosystems.
Circle has expanded its USDC stablecoin to OKX’s X Layer, an Ethereum layer-2 network, in a move that brings the world’s second-largest stablecoin to a major centralized exchange’s blockchain ecosystem. X Layer is compatible with the Ethereum Virtual Machine (EVM), allowing applications built for Ethereum to run on it with minimal changes.
Circle’s Cross-Chain Transfer Protocol (CCTP) enables USDC to move between X Layer and other supported blockchains by burning tokens on the source chain and minting an equivalent amount on the destination chain. This integration supports various use cases, including payments, decentralized finance (DeFi) lending and borrowing, trading, and cross-chain transfers.
Additionally, Circle offers on- and off-ramps for eligible businesses through Circle Mint. OKX reported over $975 million in spot trading volume in the past 24 hours, making it the fourth-largest crypto exchange by that measure.
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