USDC Goes Native: Circle Integrates Stablecoin onto OKX's X Layer

Circle has integrated its native stablecoin, USDC, onto OKX's X Layer network. This move enables direct burning and minting of tokens at a 1:1 ratio across compatible chains using the Cross-Chain Transfer Protocol (CCTP). The integration also activates the CCTP protocol, allowing for more secure cross-chain transfers.

The X Layer network will temporarily support both the native USDC token and the bridged version (USDC.e) while encouraging a gradual migration to the native variant. This shift aims to improve interoperability across 13 other networks integrated with the CCTP protocol.

The use of bridged derivative tokens has led to security incidents in the past, but eliminating intermediate custodians in transfers reduces exposure to known attack vectors. The technical integration will remain open for public use while decentralized applications deployed on the network prepare their smart contracts to update reserves.