Circle Launches USDC on Ripple’s XRP Ledger

Ripple and Circle, the company behind USDC, announced a partnership to support the stablecoin on the XRP Ledger (XRPL).

According to the statement, the initiative aims to “enhance the utility of the ledger, expand on-chain liquidity, and open new avenues for innovation.”

“Stablecoins are key entry points connecting TradFi markets with the crypto space, which is necessary for use cases focused on utility rather than speculation,” emphasized Marcus Infanger, Vice President of RippleX.

He stated that USDC could be used on XRPL for cross-border payments, remittances, and DeFi activities.

Ripple plans to include Circle’s coin in its flagship application alongside its own stablecoin RLUSD. According to the company, Ripple Payments has processed $70 billion in payments across more than 90 currency markets.

According to CoinGecko, USDC’s market capitalization is $61.4 billion, second only to Tether’s USDT at $155.3 billion. RLUSD’s figure stands at $413.5 million.

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

In May, media reported that Circle might abandon its move to go public, as it was in talks with Coinbase and Ripple to sell its business for no less than $5 billion. At the time of writing, the market capitalization of the USDC issuer stands at $30.3 billion.

Ripple CEO Discusses Competition with SWIFT

In the next five years, the XRP token could capture up to 14% of the global volume of cross-border payments processed by the SWIFT interbank messaging network. This was stated by Ripple CEO Brad Garlinghouse, according to CoinDesk.

Speaking at the XRP APEX 2025 event in Singapore, the executive highlighted the advantage of the digital asset, which provides liquidity. SWIFT transmits verified data for transfers, but financial institutions handle the actual movement of money. The presence of intermediaries increases transaction costs.

Ripple’s platform transmits both messages and funds—XRP acts as an intermediary currency.

Meanwhile, SWIFT itself is exploring the potential for conducting transactions with digital assets through its network.

XRP to Be Added to Corporate Reserves

On June 12, Singapore-based Web3 company Trident Digital Tech Holdings announced plans to raise $500 million. The funds will be used to create the “world’s first corporate treasury in XRP.”

Chaince Securities serves as the firm’s strategic advisor. The capital is expected to be raised through the issuance of shares and 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 US President tasked a working group on digital asset markets to “advance” the creation of a cryptocurrency strategic reserve, naming XRP among the candidates for inclusion.

In June, investment firm Guggenheim Treasury Services launched digital commercial papers on the XRPL network.