Circle launches native USDC on OKX X Layer

Circle announced Friday that native USDC and the Cross-Chain Transfer Protocol (CCTP) are now available on X Layer, OKX’s Ethereum Virtual Machine-compatible layer-2 network.

CCTP moves USDC between supported blockchains by burning tokens on the source chain and minting an equivalent amount on the destination chain. The mechanism does not rely on wrapped tokens or custodial bridges.

X Layer is compatible with the Ethereum Virtual Machine, which lets applications built for Ethereum run on the network with relatively few code changes. Developers on X Layer can port existing decentralized apps and integrate USDC more easily.

Circle noted the deployment supports payments, decentralized finance lending and borrowing, trading and cross-chain transfers, expanding how USDC can be used within the OKX-linked ecosystem.

Eligible businesses can connect to Circle Mint to access on- and off-ramps for USDC, including fiat conversion and issuance capabilities for commercial applications operating on X Layer.

OKX recorded more than $975 million in spot trading volume over the past 24 hours, placing it fourth by that metric, which ties the X Layer network closely to a high-traffic trading platform.

Circle issues USDC as a fiat-backed stablecoin and has extended native support and cross-chain tooling across multiple blockchains. The X Layer deployment joins other networks where USDC can be issued and transferred using CCTP.