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Circle Launches Cross-Chain Transfer Protocol (CCTP) Mainnet Enabling Transfer of USDC Between Ethereum and Avalanche

Cointime Official

April 27 (Cointime) - Circle, a global digital financial technology firm and the issuer of USDC and Euro Coin, announced the launch of the Cross-Chain Transfer Protocol (CCTP) mainnet, which allows developers to easily move the USDC stablecoin between Ethereum and Avalanche.  

According to the announcement, by incorporating Cross-Chain Transfer Protocol (CCTP), applications can facilitate the native "burn and mint" of USDC, allowing for the seamless transfer of USDC between blockchains. This process effectively enables USDC to "teleport" across different networks without the complexities and risks associated with conventional "lock and mint" methods. With CCTP, users can securely and efficiently transact with USDC in a multi-chain ecosystem, thereby enhancing capital efficiency and security.

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.”

Circle says more than ten apps have reportedly adopted CCTP to date, including: Celer, Hyperlane, LayerZero, LI.FI, MetaMask, Multichain, Rarimo, Router, Socket, Wanchain, and Wormhole.

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