Finance06 August, 20262 min read
Circle Launches Native USDC And CCTP On OKX’s X Layer, Expanding Cross-Chain Transfers
This article is an automated aggregation of coverage from news outlets. Our editorials offer in-depth analysis curated by the NewsCord team.
Native USDC issued by Circle available on OKX’s X Layer with CCTP. CCTP now supports USDC transfers across 26 blockchains; native USDC on 36 networks.
Native USDC on X Layer
Circle announced the arrival of native USDC on OKX’s X Layer, a layer-2 network, so X Layer users can operate with the stablecoin issued directly by Circle and transfer between different chains. The integration replaces “puenteadas” versions of USDC with official Circle issuance on X Layer, with the stated aim of reducing risks of counterparty and frictions when moving funds.
Circle’s rollout also frames X Layer as gaining a stablecoin asset for payments, commerce in decentralized applications, and strategies in decentralized finance (DeFi), with transfers between chains described as a key component. CoinGape adds that Circle launched native USDC and its Cross-Chain Transfer Protocol on X Layer, and says CCTP supports USDC transfers across 26 blockchains while native USDC is available on 36 networks.
CCTP and Circle Mint
Circle said the integration gives qualified businesses access to USDC issuance and redemption through Circle Mint on X Layer, while X Layer continues supporting bridged USDC from Ethereum. Cointelegraph describes CCTP as moving USDC between X Layer and other supported blockchains by burning the tokens on the source chain and minting an equivalent amount on the destination chain.
Crypto Briefing similarly says the deployment activates CCTP on X Layer so users and developers can move USDC across supported blockchain networks securely and efficiently. Cointelegraph also ties the launch to OKX’s ecosystem, noting that the network is compatible with the Ethereum Virtual Machine (EVM) so applications built for Ethereum can run on it with relatively few changes.
DeFi growth and market reach
Beyond payments and cross-chain settlement, the sources link X Layer’s native USDC launch to DeFi activity, with Cryptonews.net saying the network broke past the $100 million DeFi total value locked (TVL) and $2 billion stablecoin supply levels. Cryptonews.net attributes part of that momentum to the integration of Aave and Uniswap, and says Aave V3 leads with $85.34 million locked while Uniswap holds $21.24 million.
It also reports that OKX’s X Layer has more than 4.2 million cumulative active addresses and 400 million on-chain transactions, and that TVL is $116.27 million, up 5.26% on the day. Separately, Criptotendencias frames the broader competitive stakes as Circle “disput[ing] el liderazgo del mercado de monedas estables con Tether,” while Circle “no detalló volúmenes esperados” or a calendar for new integrations tied to the X Layer launch.