Circle Launches USDC on OKX’s X Layer Network

Circle has brought its USDC stablecoin to X Layer, OKX’s Ethereum layer-2 network, expanding the stablecoin’s reach into an ecosystem tied to one of the world’s largest crypto exchanges by trading volume.

Native USDC and Cross-Chain Support

Circle announced Friday that native USDC and its Cross-Chain Transfer Protocol are now live on X Layer, a network built to be compatible with the Ethereum Virtual Machine, allowing Ethereum-based applications to run with minimal changes. The Cross-Chain Transfer Protocol lets USDC move between X Layer and other supported blockchains by burning tokens on the source chain and minting an equal amount on the destination chain. The integration is designed to support payments, DeFi lending and borrowing, trading, and cross chain transfers.

On- and Off-Ramp Access Included

Circle also noted that eligible businesses will be able to access USDC on- and off-ramps through Circle Mint as part of the rollout.

Expanding Reach Through OKX

The launch connects the world’s second largest stablecoin by market capitalization to the ecosystem of a major centralized exchange. OKX recorded more than $975 million in spot trading volume over the past 24 hours, ranking it as the fourth-largest crypto exchange by that measure.