Circle launches native USDC on OKX's X Layer

Circle has launched native USDC on OKX’s X Layer, replacing the bridged version that had previously circulated there. That makes this more than a routine chain expansion, because Circle now controls the canonical USDC asset on the network instead of leaving users to rely on a bridged substitute.

Alongside that launch, Circle is extending its Cross-Chain Transfer Protocol, or CCTP, to X Layer. CCTP moves USDC between supported blockchains by burning tokens on one chain and minting them on another, rather than relying on wrapped or bridged versions.

The key issue Circle is targeting is fragmentation. When bridged stablecoins circulate on a network, the same USDC ticker can represent different tokens depending on how it got there. Circle says that can split liquidity, create security and operational risk, and lead to a confusing user experience. Native USDC and CCTP are Circle’s answer to that problem on X Layer.

Circle says USDC is now native on 36 blockchains, while CCTP is available on 26.