USDC Expands to OKX Ecosystem via X Layer Launch
Circle has expanded its USDC stablecoin to the OKX ecosystem through the launch of X Layer, a Ethereum layer-2 network. This move extends the reach of the second-largest stablecoin by market capitalization to one of the world's largest cryptocurrency exchanges.
Native USDC and Circle's Cross-Chain Transfer Protocol (CCTP) are now available on X Layer. CCTP allows for seamless transfers between X Layer and other supported blockchains, enabling uses such as payments, decentralized finance lending and borrowing, trading, and cross-chain transfers.
The integration also provides eligible businesses with access to USDC on- and off-ramps through Circle Mint.
OKX recorded more than $975 million in spot trading volume over the past 24 hours, making it the fourth-largest crypto exchange by that measure, according to CoinMarketCap data.