Circle’s USDC stablecoin has formally launched on the XRP Ledger (XRPL). This is the farthest it has come yet, and a huge step to expanding its utility and reach. Ripple CEO Brad Garlinghouse sees the XRPL as a way to one day revolutionize the international financial system. He confidently forecasts that the new ledger will process a significant share of SWIFT’s worldwide transaction volume. This is entirely possible within the next five years. This action benefits all climate action hubs, from Asia to Europe to North America and Latin America. On a much bigger level, it is bringing new financial inclusivity and smoothness to the entire planet.

XRPL's SWIFT Ambitions

Garlinghouse’s optimistic prediction rests on the XRPL’s ability to process a great volume of transactions quickly and cost-effectively. He argued that the ledger’s speed and cost-effectiveness makes it a more competitive alternative to legacy systems such as SWIFT.

Garlinghouse projects that the XRPL could capture as much as 14% of the global transaction volume SWIFT currently has. This change seems poised to occur in the next several years. This projection highlights Ripple’s confidence in the XRPL’s utility and its promise to transform cross-border payments.

With the recent addition of USDC, XRPL’s attractiveness for cross-border payments is only further enriched. Most importantly, it will serve as a consistent, trustworthy and widely accepted digital currency alternative foundation for global users.

Stablecoin Expansion Across Continents

The launch of USDC on the XRPL is intentionally crafted to address the needs of a global audience. Circle’s vision is to enable transparent and frictionless commerce around the world.

Most importantly, this includes meeting the increasing demand for stablecoins in Asia, where digital payments are quickly becoming a preferred method. In Europe, USDC provides a regulated, transparent alternative to hold value and make transactions.

North and Latin America stand to benefit from the increased accessibility of USDC, fostering greater financial inclusion and innovation. The global expansion of USDC across these continents emphasizes how it has the potential to create a bridge between traditional finance and the digital asset space.

Ripple's Vision for the Future

Ripple remains committed to supporting the XRPL as one of the world’s premier, independent, open-source blockchain for enterprise-grade solutions. The addition of USDC is a signal of that commitment.

The company imagines a world where the inherent value of digital assets drives the global economy and everyday finance. Ripple expects that the XRPL will play a key role in making this transformation happen.