Circle launches USDC bridge for cross-border chain transfers
Stablecoin issuer Circle has launched USDC Bridge, a new user interface built on Cross-Chain Transfer Protocol (CCTP) that seeks to simplify USDC stablecoin native on-chain transfers.
On Friday, Circle's USDC X token said the bridge would allow users to move the USDC stablecoin in a “predictable, transparent way.”
Gas bills will be processed automatically, charges will be displayed up front, and live status updates will be provided whenever they are transferred, Circle added.
USDC Bridge builds on Circle's CCTP, which was introduced in April 2023 and facilitates hundreds of millions of stablecoin transactions every day.
CCTP eliminated the need for packaged and synthetic versions of USDC.
Cross-chain bridges seek to make the broader crypto ecosystem work together as a unified network rather than a collection of fragmented and isolated blockchains.
Making bridges as simple and easy to use as possible has been a focus for many crypto infrastructure organizations.
In the past, bridges have confused users and slowed crypto adoption, especially for startups struggling to navigate bridge interfaces, trade routes, and gas fees.
USDC Bridge supports more than a dozen blockchains
Cointelegraph USDC Bridge supports USDC transfers between at least 17 Ethereum Virtual Machine-compatible blockchains, including Ethereum, Avalanche, Arbitrum, Base, Monad, Optimism, Polygon, Sonic, and World Network.
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Circle's CCTP supports a wide range of blockchains, including Solana, Sui, and Aptos, which are not natively compatible with EVM.
On Wednesday, Circle was hit with a class action for failing to bond over $230 million worth of USDC through CCTP on April 1 from the Drift Protocol exploit.
The club was accused of aiding and abetting conversion and neglect.
More than 100 members participate in the class. Myra Gibb, a law firm that represents them, is seeking damages, the final amount of which will be determined at trial.
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