Circle Embeds Native USDC on OKX-Linked X Layer

Circle has expanded its stablecoin USDC's availability across another exchange-linked blockchain ecosystem by launching native USDC and its Cross-Chain Transfer Protocol (CCTP) on X Layer, a layer-2 network developed by OKX.

X Layer is an Ethereum-compatible network that allows developers to move or adapt Ethereum applications with relatively few changes. The integration of native USDC gives those applications access to a widely used dollar-denominated asset for trading, lending, payments, and other decentralized finance activity.

The CCTP allows USDC to move between X Layer and other supported blockchains through a burn-and-mint process. Tokens are burned on the source network and an equivalent amount is created on the destination network.