Circle announced Friday that its USDC stablecoin is now live on X Layer, the Ethereum layer-2 network built by cryptocurrency exchange OKX. The rollout gives users access to native USDC and the Cross-Chain Transfer Protocol (CCTP) within an ecosystem tied to one of the world’s largest exchanges by trading volume.
X Layer is compatible with the Ethereum Virtual Machine (EVM), meaning applications built for Ethereum can operate on it with relatively few modifications. 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.
Consequently, the integration supports a range of use cases including payments, decentralized finance lending and borrowing, trading, and crosschain transfers. The stablecoin’s expansion across major blockchain ecosystems continues as Circle extends its infrastructure to layer-2 networks tied to prominent exchanges.
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