Circle Announces 'xReserve', Enabling Deployment of USDC-Backed Stablecoins

On the 18th, Circle, the issuer of USDC stablecoins, announced a new interoperability infrastructure called 'xReserve'. This platform allows for the deployment of USDC-backed stablecoins that are interoperable with USDC through Circle CCTP and Circle Gateway, creating unified liquidity across supported networks.

While traditional bridge-based USDC has supported the launch of new ecosystems, it lacked compatibility with native USDC. Due to the absence of interoperability between the two, liquidity has been fragmented across blockchains...