Stablecoin issuer Circle announced on April 26 the mainnet launch of its cross-chain transfer protocol with support for two blockchains.
Circle launches CCTP
The product, called Cross-Chain Transfer Protocol (CCTP), allows developers to easily move the USDC stablecoin between Ethereum and Avalanche.
Circle’s Product VP, Joao Reginatto, said in a blog post:
“Developers can now build applications with seamless support for different native versions of USDC, allowing businesses to target end-users in different blockchain ecosystems.”
In a separate press release, Circle said that apps that use CCTP will allow users to “burn and mint” or “teleport” USDC between blockchains. This removes the need for the older method of cross-chain transfers, which involves locking and minting assets.
Ultimately, customers should be able to transact with USDC without needing to know which blockchain their assets exist on, Circle said.
More than ten apps have reportedly adopted CCTP to date, incl
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