Uphold has announced the addition of USDC support on the XRP Ledger, aiming to simplify cross-border cryptocurrency transactions for users worldwide.
USDC Support in Uphold
Uphold stated that users can now make deposits and withdrawals of USDC to and from their accounts or external XRPL addresses. This provides users with greater flexibility and faster settlement times.
Advantages of the XRP Ledger
The XRP Ledger (XRPL), developed by Ripple, offers a solution for connecting financial institutions, payment providers, and individuals while enabling fast and low-cost cryptocurrency transactions. The support of USDC enhances the utility of XRPL, simplifying access to the network.
Regulatory Changes Surrounding Stablecoins
The launch of USDC on XRPL happens amidst significant regulatory changes surrounding stablecoins in the USA. The recently passed Genius Act aims to establish a federal framework for fiat-backed stablecoins.
The integration of USDC into Uphold on the XRP Ledger opens new opportunities for users, bridging traditional finance systems and blockchain technology in the cryptocurrency landscape.
