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, a leading blockchain infrastructure company, has expanded its USDC stablecoin to OKX's X Layer, a network built on Ethereum's layer-2 infrastructure. This integration enables users of X Layer to access Circle-issued USDC and facilitates crosschain transfers. USDC is now available on X Layer, which is compatible with the Ethereum Virtual Machine (EVM), allowing Ethereum-based applications to run with minimal modifications.
A key feature of this integration is the Cross-Chain Transfer Protocol (CCTP), which enables the movement of USDC between X Layer and other supported blockchains. This is achieved by burning USDC on the source chain and minting an equivalent amount on the destination chain. The expansion of USDC to X Layer opens up new possibilities for its use, including payments, decentralized finance lending and borrowing, trading, and crosschain transfers.
Additionally, Circle offers businesses USDC on- and offramps through Circle Mint. With the integration, Circle's USDC joins the blockchain ecosystem of a major centralized exchange. OKX, one of the world's largest cryptocurrency exchanges by trading volume, recorded over $975 million in spot trading volume over the past 24 hours.
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