xReserve

xReserve is a crosschain infrastructure that lets blockchain teams deploy USDC-backed tokens on their blockchains. It's powered by Circle-managed smart contracts that hold USDC in reserve, and an attestation system that programmatically verifies deposits and burns. USDC-backed tokens deployed through xReserve are interoperable with each other and with the broader USDC ecosystem, enabling unified USDC liquidity across blockchains.

To learn about how xReserve deposits, attestations, and withdrawals help move funds between blockchains, see How xReserve Works.

xReserve offers a range of benefits for blockchains, developers, and end users:

• Day 1 liquidity: Tokens created using xReserve are connected to the broader USDC network, allowing users to seamlessly move tokens across blockchains.
• Deployed by Circle: xReserve holds USDC in a smart contract deployed by Circle.
• Minimized trust assumptions: Users do not have to rely on third-party services to convert USDC.