Circle on Tuesday introduced xReserve, a new system that enables blockchain teams to issue USDC-backed stablecoins that can easily move across different blockchains.

USDC is currently the second-largest circulating stablecoin with a market capitalization of $74 billion. The system employs Circle’s attestation service to verify transactions, reducing the need for third-party bridges.

Traditional bridged USDC tokens often do not work smoothly with native USDC, which limits liquidity and confuses users, Circle explained in a blog post.

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