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postIPO

Circle stock price pump gains steam, but a crash may follow
Crypto Trends

Circle brings USDC to XRP Ledger in major stablecoin expansion post-IPO

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With native USDC support, the XRP Ledger gains a trusted, regulated stablecoin, while Circle accesses the ledger’s proven cross-border infrastructure for strategic expansion following its public debut.

USDC issuer Circle announced on June 12 that the world’s second-largest stablecoin by market cap has been deployed on the XRP Ledger, allowing developers, institutions, and users to access it directly on the network—without the need for bridging.

The company said its institutional stablecoin creation platform, Circle Mint, and Circle APIs now fully support USDC on the XRPL mainnet, bolstering the stablecoin’s liquidity while enabling users to benefit from the XRPL’s fast and secure infrastructure.

USDC use cases on the XRPL

According to the announcement, users can leverage USDC on XRPL for a range of purposes, including real-time payments and cross-border remittances. XRPL is known for low transaction costs and rapid global settlements. Ripple has noted that its payments platform has processed over $70 billion in transactions to date.

Developers can integrate USDC into decentralized finance products, trading applications, and on/off-ramping services. With support from Circle Mint and its APIs, institutions gain a streamlined gateway to issue, redeem, and manage USDC at scale, while taking advantage of XRPL’s decade-long track record of high throughput, low fees, and regulatory-friendly design.

“Regulated stablecoins like USDC coming to the XRPL will enable new institutional and retail use cases by leveraging the ledger’s built-in capabilities for compliance, tokenization, low-cost settlement, and seamless on/off-ramps,” said Markus Infanger, Senior Vice President, RippleX.

The integration marks a strategic step for Circle, coming just one week after its public listing. The move expands USDC’s footprint across major blockchain ecosystems and reinforces the firm’s commitment to embedding its stablecoin within both advanced crypto networks and legacy financial systems.

For XRPL, the addition of USDC enhances its appeal to wallets and global financial service providers seeking enterprise-grade stablecoin liquidity without sacrificing security or efficiency.



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Arca exec writes scathing letter to Circle post-IPO
Crypto Trends

Arca exec writes scathing letter to Circle post-IPO

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Circle is facing criticism from Jeff Dorman, chief investment officer at digital asset investment firm Arca, over a $135,000 allocation to the company during the stablecoin issuer’s recent initial public offering.

In an open letter posted to social media, Dorman accused Circle and its leadership of poor judgment, calling the allocation “inappropriate” and announcing the closing of all Arca’s accounts with Circle.

According to Dorman’s post, Arca was granted only a $135,000 participation in its $10 million order on the offering. Dorman said Arca was one of the first entities to make an offer. The executive said the company is one of Circle’s earliest backers and held steady even amid rumors of Circle delaying its IPO plans due to the macroeconomic shock of tariffs. The letter read:

“Arca has been through hell and back like every other crypto-native firm for the last eight years. Most of us stick together and help each other. I cannot believe our efforts to help you grow for years culminated in you giving us a joke, throwaway allocation. You are the first and only crypto company that has ever treated Arca this way.”

“Most of Arca’s management team left Wall Street eight years ago to start a crypto-native company specifically to get away from TradFi clowns like you. Ironically, you’ve come full Circle,” the letter continued.

Source: Jeff Dorman

Dorman also said that Arca was closing all accounts with Circle and would discourage other companies from partnering with the stablecoin giant.

Circle made its public debut on June 5 after listing on the New York Stock Exchange (NYSE) and is considered by industry professionals to mark a significant milestone for the crypto sector, as the issuer of the second-largest stablecoin by market capitalization opens up to liquidity from traditional finance.

Full open letter to Circle. Source: Jeff Dorman

Related: BlackRock eyes 10% stake in Circle’s IPO — Report

Circle raises IPO target twice during sale

Circle launched its IPO on May 27 and announced an initial target of 24 million shares, with the company issuing 9.6 million shares of Class A Common Stock and existing early investors providing the remaining 14.4 million shares.

On June 2, the stablecoin company increased its IPO target to 32 million shares, with the goal of raising $892 million. Circle raised its target again on June 4, boosting the IPO offering to 34 million shares at $1.05 billion. The company’s stock soared by more than 200% during its first hours of trading on the NYSE exchange.

This is a developing story, and further information will be added as it becomes available.

Magazine: TradFi is building Ethereum L2s to tokenize trillions in RWAs: Inside story 



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