Circle brings USDC to Ripple’s network as XRP Ledger gears up for EVM-compatible sidechain this quarter

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Circle has launched its flagship stablecoin, USD Coin (USDC), on the XRP Ledger (XRPL) mainnet, tapping into the network’s high-speed transactions and trusted security model, said the company in a Thursday statement.

Users and developers can now build apps using USDC with ease, as they no longer need third-party tools or cross-chain bridges to bring USDC from another network to XRPL.

USDC is now live on the XRP Ledger (@RippleXDev)!

With the launch of native @USDC on the XRPL, developers, institutions, and users gain the support of the world’s largest regulated stablecoin.

✅ Enterprise B2B payments: Use USDC for global money movement and improve capital… pic.twitter.com/WjXr7ui2Kp

— Circle (@circle) June 12, 2025

With this move, XRPL is now the 22nd blockchain network to natively support the stablecoin. It follows Circle’s continued push for multi-chain support, with USDC recently debuting on World Chain, co-founded by Sam Altman, and Sonic, backed by Andre Cronje.

With a $61 billion market cap, USDC ranks as the world’s second-largest stablecoin, only behind Tether’s USDT, which has achieved a market cap of over $155 billion, CoinGecko data shows.

Circle made a splash on Wall Street last week with its NYSE debut. The company’s stock (CRCL) has since climbed to a $27 billion market valuation, per Yahoo Finance data.

Several promising developments have also emerged around the XRP Ledger in recent days.

Ondo Finance also introduced its tokenized money market fund OUSG on the XRP Ledger on Wednesday, facilitating subscriptions and redemptions using Ripple’s RLUSD stablecoin.

1/ We’re bringing tokenized real-world assets to the XRP Ledger.

Ondo Finance’s flagship short-term US Treasuries fund, OUSG, is now live on the XRPL—with seamless minting and redemptions via @Ripple’s stablecoin, RLUSD. pic.twitter.com/E4lH9C8tE6

— Ondo Finance (@OndoFinance) June 11, 2025

The expansion enables access for qualified and institutional investors and marks the fourth blockchain platform to support OUSG, following Ethereum, Polygon, and Solana. OUSG is a leading tokenized US Treasury with a significant market presence valued at $692 million.

Earlier this week, Guggenheim Treasury Services, one of the largest and most respected issuers of asset-backed commercial paper, announced the expansion of its Digital Commercial Paper (DCP) platform to XRPL. Initially launched on Ethereum, DCP is a blockchain-based commercial paper product backed by US Treasury bonds and customized maturities.

To date, the DCP has facilitated over $280 million in issuances, signaling strong interest from institutional investors. Ripple has committed to investing $10 million in the platform and is exploring its potential uses for payments.

Separately, Ripple CTO David Schwartz announced at Singapore’s Apex 2025 event that XRPL plans to launch an Ethereum Virtual Machine (EVM) sidechain in Q2 2025, according to developer Peersyst.

The sidechain aims to combine XRPL’s low-cost, high-speed transactions with Ethereum’s smart contract functionality.

Currently in testnet, the EVM sidechain is being developed by Ripple and Peersyst using the evmOS software stack. It will connect to the XRPL mainnet via an Axelar bridge, enabling asset transfers such as wrapped XRP, which will function as the native gas token.

Launched in 2012, XRPL is a decentralized layer 1 blockchain focused on tokenization and value exchange. It has processed over 3.3 billion transactions and is maintained by a global network of developers, validators, and organizations, including the XRPL Foundation, XRPL Labs, XRPL Commons, and Ripple.

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