Circle and Ripple Join Forces to Launch USDC on XRP Ledger for Enhanced Liquidity and Innovation

Ripple and the company behind USDC, Circle, have announced a partnership aimed at integrating support for the stablecoin into the XRP Ledger (XRPL).

According to the announcement, this initiative is intended to «enhance the utility of the ledger, increase liquidity on-chain, and open new avenues for innovation.»

«Stablecoins are crucial entry points that bridge traditional finance (TradFi) with the cryptocurrency space, which is essential for use cases focused on utility rather than speculation,» emphasized RippleX Vice President Marcus Infanger.

He noted that USDC can be utilized on XRPL for cross-border payments, remittances, and DeFi activities.

Ripple plans to integrate Circle’s coin into its flagship application alongside its own RLUSD stablecoin. The company stated that Ripple Payments has processed transactions worth $70 billion across more than 90 currency markets.

As reported by CoinGecko, USDC’s market capitalization stands at $61.4 billion, making it second only to Tether’s USDT, which has a market cap of $155.3 billion. RLUSD has a market valuation of $413.5 million.

On June 5, Circle went public, raising $1.1 billion in its IPO—almost double the expected amount. The market valuation reached $6.9 billion. On its first day of trading on the New York Stock Exchange, shares rose by 168%.

In May, reports suggested that Circle might abandon its plans for a public listing as it negotiated with Coinbase and Ripple about selling its business for at least $5 billion. At the time of writing, USDC’s issuer’s market cap was $30.3 billion.

According to Ripple CEO Brad Garlinghouse, the token XRP could capture up to 14% of the global volume of cross-border payments processed by the SWIFT messaging network over the next five years. CoinDesk reported on his comments during the XRP APEX 2025 event in Singapore.

He highlighted the advantage of digital assets that provide liquidity, noting that while SWIFT transmits verified data for transactions, financial institutions handle the actual movement of money, resulting in added costs due to intermediaries.

Ripple, on the other hand, transmits both messages and funds on its platform, with XRP serving as an intermediary currency.

Meanwhile, SWIFT is exploring the possibility of conducting transactions with digital assets through its network.

On June 12, Singapore-based Web3 company Trident Digital Tech Holdings announced plans to raise $500 million, aimed at establishing «the world’s first corporate treasury in XRP.»

The firm has appointed Chaince Securities as its strategic advisor, with financing planned through equity issuance and the placement of other financial instruments.

«The initiative aims to acquire XRP tokens as long-term strategic reserves, deploy staking mechanisms for yield generation, and engage deeply within the Ripple ecosystem,» stated Trident Digital.

In March, the U.S. President tasked a working group on digital asset markets to move forward with the creation of a cryptocurrency strategic reserve, naming XRP among the candidates for inclusion.

Additionally, in June, investment firm Guggenheim Treasury Services launched digital commercial paper on the XRPL network.