March 4, 2024

Loading… Loading…

Stablecoin issuer Circle announced the integration of its USD Coin USDC/USD with the Cosmos ATOM/USD ecosystem through the newly launched Cross-Chain Transfer Protocol (CCTP).

The protocol wasnow live on Noble mainnet, marking astep in facilitating cryptocurrency transactions across various blockchain networks.

CCTP enablestransfers of USDC between blockchains using a native burn-and-mint process.

Thistechnology allows for programmatic, 1:1 cross-chain transfers of USDC with zero slippage, meaning users can move large sums such as$1 million USDC from Ethereum to Nobleto dYdX Chain in a single click.

The implementation of CCTP on Noble mainnet hasCosmos appchainsuse both CCTP and Inter-Blockchain Communication (IBC) functionalities.

This integration is vital for onboarding users directly from Ethereum ETH/USD and other supported networks into the Cosmos ecosystem.

Circle's CCTP expanded its reach to more than30 routes among various blockchain platforms, including Arbitrum ARB/USD , Avalanche AVAX/USD , Base BASE/USD , Ethereum, Nobleand Optimism OP/USD .

This expansion does not require locking up liquidity or adding trust assumptions, making the movement of USDC across chains more secure and capital efficient, Circle stated.

Also Read:Bitcoin Bull Run Ahead: Novogratz Sees Return To All-Time Highs

Developers can now leverage CCTP and IBC to enable flows of USDC and user onboarding from external ecosystems into any Cosmos appchain, allowingdevelopers to create user experiences where blockchain boundaries become invisible to the end-users holding USDC.Loading… Loading…

Several applications, walletsand bridges currently support CCTP for various blockchains, with Noble has now joined theecosystem.

Notable ecosystem partners such asdYdX ChainDYDX/USD , Osmosis OSMO/USD and Squid Router have integrated CCTP on Noble within their respective platforms, enhancing user experience for cross-chain transactions.

Circle anticipates more ecosystem partners to support CCTP on Noble shortly after its launch, including Cypher Wallet, Kepler Wallet, Leap Cosmos, Skip Protocoland TFM.

This expansion signifieda significant stride in bridging the gaps between different blockchain networks and simplifying the use of cryptocurrencies for mainstream users.

Read Next:Investcorp-Backed Crypto Brokerage Fasset Scores Dubai License, Readies Beta Debut

Photo: ShutterstockLoading… Loading…