Circle has expanded its blockchain payment infrastructure by launching native USDC and the Cross-Chain Transfer Protocol on OKX’s X Layer. The integration increases access to regulated digital dollar payments while improving cross-chain functionality for developers and businesses. It also strengthens X Layer’s position as a network supporting decentralized finance, payments, tokenized assets, and artificial intelligence applications.

Native USDC Brings Direct Stablecoin Access To X Layer

Circle has introduced native USDC on X Layer, an Ethereum-compatible layer-2 blockchain developed by OKX. The launch gives developers and businesses direct access to Circle-issued stablecoins across the network. It also reduces dependence on bridged versions that previously supported USDC activity.

The integration allows decentralized applications to use native USDC for payments, trading, lending, and other financial services. Developers can also build applications with regulated dollar liquidity from the network itself. As a result, projects gain direct access to Circle’s stablecoin infrastructure.

Qualified businesses can issue and redeem USDC through Circle Mint on X Layer. The service provides institutional access to regulated stablecoin liquidity for settlement and treasury operations. Meanwhile, Circle expands its infrastructure for enterprise blockchain adoption through the integration.

X Layer operates as an Ethereum-compatible layer-2 network with lower transaction costs and faster settlement speeds. The blockchain supports decentralized finance, payment services, tokenized real-world assets, and artificial intelligence applications. Therefore, native USDC strengthens payment capabilities across multiple sectors operating on the network.

Circle continues supporting bridged Ethereum-based USDC on X Layer during the transition period. However, the company encourages applications and ecosystem participants to migrate toward native USDC over time. This approach improves consistency while reducing reliance on external bridge infrastructure.

Cross-Chain Transfer Protocol Expands Multi-Chain Connectivity

Circle also activated its Cross-Chain Transfer Protocol (CCTP) on X Layer. The protocol allows users to move native USDC between supported blockchain networks. Unlike traditional bridge models, CCTP transfers native tokens instead of wrapped assets.

The addition brings the number of blockchains supporting CCTP to 26. At the same time, native USDC now operates across 36 blockchain ecosystems following the X Layer integration. Consequently, developers gain broader access to liquidity across multiple chains.

Cross-chain functionality supports decentralized applications that require efficient movement of stablecoins between different ecosystems. Developers can build services without creating separate liquidity pools for every blockchain. This design also simplifies payment and settlement processes across supported networks.

Circle designed CCTP to improve interoperability between blockchain ecosystems while maintaining native asset movement. The protocol removes the need for wrapped stablecoins during supported transfers. Therefore, developers can create applications with more direct cross-chain payment capabilities.

The expanded network also strengthens X Layer’s position within the broader blockchain ecosystem. Applications can connect with supported chains while maintaining access to regulated USDC liquidity. This combination supports payment services and decentralized financial products across several blockchain environments.

Expansion Supports Payments, AI Applications, And Enterprise Services

Native USDC also supports payment providers, fintech companies, decentralized applications, and automated financial systems operating on X Layer. Businesses can settle transactions with regulated digital dollars across the blockchain. Furthermore, developers can integrate stablecoin payments into consumer and enterprise services.

The integration connects with X Layer’s x402 ecosystem, which focuses on automated payments between artificial intelligence agents and digital services. Developers can use USDC for application programming interfaces and machine-driven payment processes. As a result, automated systems gain access to regulated blockchain settlement.

Circle continues expanding its blockchain infrastructure beyond the X Layer launch. The company recently introduced founding validators for its Arc blockchain initiative. Participants include BlackRock, DTCC, Galaxy, Mastercard, Visa, Standard Chartered, and other financial and technology organizations.

The validator group reflects Circle’s broader strategy to expand regulated blockchain infrastructure across financial markets. Enterprise participation also supports the company’s long-term network development goals. Meanwhile, Circle continues increasing the availability of native USDC across additional blockchain ecosystems.

The X Layer integration represents another step in Circle’s broader expansion strategy. Native USDC, Circle Mint, and CCTP now provide additional payment and settlement options for businesses and developers. Together, these services strengthen regulated stablecoin infrastructure across an expanding multi-chain blockchain ecosystem.

“The order is intended to preserve identified stolen digital assets while the litigation continues, representing an important step in Bybit’s ongoing efforts to recover funds, support international law enforcement investigations, and reinforce accountability for large-scale cybercrime,” Bybit said in the release.

“Our focus has never changed: protect our users first, recover what we can, and make sure the people behind these attacks are held accountable,” said Ben Zhou, co-founder and CEO of Bybit, in a statement. “The Lazarus attack wasn’t just an attack on Bybit. It was an attack on trust in our industry. That’s why we’ve worked closely with investigators, exchanges, regulators, law enforcement, and now the courts.”

The preliminary injunction means a federal judge ordered the respondents not to transfer or sell the assets they’re holding while the case is ongoing, Bybit said. The exchange added that it will look for further relief from the court.

“The civil action is being pursued independently of ongoing criminal investigations conducted by U.S. law enforcement authorities,” the firm added.

The company’s deteriorating financial performance compounded these concerns. BitMEX continued to lose market share throughout the sale process as trading activity migrated to larger centralized exchanges and decentralized perpetual futures platforms. This made potential acquirers reluctant to pay the revenue multiple typically reserved for growing businesses, the person said.

Both and BitMEX and Exodus did not respond to requests for comment by publication time.

The exchange was reportedly seeking a valuation of around $1 billion during the process, although it is unclear whether formal bids were ever submitted.

BitMEX was one of crypto’s most influential exchanges, pioneering the perpetual futures contract in 2016 with the launch of its XBTUSD perpetual swap. Unlike traditional futures, perpetuals have no expiry date and instead use a funding-rate mechanism to keep prices aligned with the underlying asset, allowing traders to maintain leveraged long or short positions indefinitely.

The product revolutionized crypto derivatives trading, was rapidly adopted across the industry, and today accounts for the vast majority of crypto derivatives volume on other exchanges such as Binance, Bybit and Hyperliquid.

The company announced on July 24 that it would wind down operations following a strategic review by its parent, HDR Global Trading, and immediately halting new account registrations ahead of its planned Sept. 23 closure.

The chairman of the UK’s Reform party has called for an investigation following reports of a $50,000 political donation linked to former FTX CEO Sam “SBF” Bankman-Fried.

According to a Friday report from the Telegraph, Reform UK chair Lee Anderson called for the parliamentary commissioner for standards to probe Defense Secretary Wes Streeting over reported $50,000 in donations from a think tank in 2022 and 2023. The reported donations came from Labour for the Long Term, whose founder reportedly accepted a $675,000 gift from Bankman-Fried before sending funds to Streeting.

Notably, Reform leader Nigel Farage is set to face voters next week in a by-election triggered by his resignation as a member of parliament amid his own crypto scandal. The UK politician received $6.7 million in donations from crypto billionaire Christopher Harborne and financial assistance from George Cottrell, a convicted fraudster linked to a crypto casino. Farage claimed that the contributions were “gifts.”

Under UK law, unincorporated associations are permitted to give more than $675 directly to politicians, according to the International Bar Association. The regulations offer a loophole for companies with business in the UK to be used as “conduits for foreign or dark money” to lawmakers without reporting the source of the funds.

Related: Crypto companies have spent $189M so far on 2026 US election cycle: Report

According to the Telegraph, Streeting asked Labour for the Long Term for a list of its donors before accepting the $50,000, but Bankman-Fried’s name was not included. The defense secretary reportedly said that he had never had any contact with the former FTX CEO, who is currently serving 25 years in prison after his conviction on seven felony charges.

David Lawrence, who founded the think tank, said Streeting’s contribution was funded by a donor other than the former CEO, and that Labour for the Long Term ”did not receive any donations from the FTX Foundation or Mr. Bankman-Fried,” according to the Telegraph.

US court issues mandate upholding SBF’s conviction

Earlier this week, the US Court of Appeals for the Second Circuit issued a formal mandate upholding Bankman-Fried’s felony conviction and 25-year sentence.

The appeals court announced its ruling in June, giving the former CEO fewer legal routes to seek a potential early release from prison. Bankman-Fried still has the option of appealing to the US Supreme Court or waiting for a potential presidential pardon from Donald Trump.

Magazine: How Fake World Assets and onchain gacha became crypto’s latest craze

In this video, we’ll explore the key economic events and market trends, shaping the financial landscape. Get ready for insights into financial markets to help you navigate the week ahead. Let’s dive in!

👉 Key topics:

✔️US Inflation Rate
The first major event is the US inflation report on 12 August. Markets currently see a 55% probability of a Federal Reserve rate hike in September, but a weaker-than-expected inflation reading could reduce those expectations and put pressure on the US dollar. June’s softer inflation data already triggered a sharp dollar decline, while some analysts expect the Fed to keep rates unchanged for now and consider cuts next year.

✔️UK GDP Data
The UK GDP report on 13 August will be closely watched by sterling traders. Markets will focus on monthly, quarterly and annual growth figures. A significant surprise in the data could increase volatility across GBP pairs, with weaker growth potentially weighing on the pound.

✔️US PPI
The US Producer Price Index, also released on 13 August, will provide further insight into inflation pressures before they reach consumers. June’s weaker-than-expected PPI and Core PPI readings pushed the dollar lower, and another soft report could strengthen expectations of easing inflation and add further pressure on the US currency.

With several high-impact releases packed into the week, disciplined risk management will remain essential. Geopolitical developments continue to influence commodity and currency markets, while economic data could generate sharp short-term price swings.

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