Blockchain

Wormhole Now Integrates USDC Across Blockchains With Circle’s CCTP Support

Key Points:

  • Wormhole now supports USDC transfers across multiple blockchains via Circle’s CCTP.
  • Users access this feature through Portal bridge, and developers can integrate it with just three lines of code using Wormhole Connect.
  • CCTP streamlines cross-chain USDC transfers, enhancing liquidity and the user experience in Web3.
Wormhole, a prominent cross-chain solution, has recently incorporated Circle’s Cross-Chain Transfer Protocol (CCTP), introducing seamless transfers of USD Coin (USDC) across multiple blockchains, including Ethereum, Avalanche, Arbitrum, and Optimism. This development was announced on September 20.
Wormhole Now Integrates USDC Across Blockchains With Circle's CCTP Support 2

This enhancement is now accessible to end-users through the Portal bridge, while developers can readily integrate it into their applications using Wormhole Connect.

Previously, transferring USDC to other chains necessitated using a bridge to lock the native USDC on Ethereum and create a derivative version on the target chain. The existence of multiple bridging protocols with various USDC derivatives has occasionally led to confusion among users.

In April, Circle introduced the USDC Cross-Chain Transfer Protocol (CCTP) for seamless token transfers between Ethereum and Avalanche. This protocol facilitates the destruction of tokens on the original chain and their transfer to the target chain when users execute cross-chain operations. Prior to Wormhole’s involvement, various cross-chain projects, including Celer, Hyperlane, LayerZero, LI.FI, and MetaMask, had adopted CCTP.

Wormhole Connect has now integrated Circle’s CCTP, offering application developers a straightforward method to incorporate native USDC for cross-chain token transfers with just three lines of code.

CCTP, developed by Circle, is a permissionless on-chain utility that ensures secure USDC transfers between blockchains through native burning and minting. This innovation streamlines the user experience by allowing USDC to flow natively across blockchains, promoting liquidity in the Web3 ecosystem.

CCTP’s integration into various applications paves the way for a unified and widely adopted Web3 ecosystem, providing users with a secure and efficient way to transfer USDC across different chains.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

Cosmos Developer Interchain Foundation Sold 3000 ETH Today

Cosmos Developer Interchain Foundation sold 3000 ETH from its ICO today, totaling 21,600 ETH sold…

11 minutes ago

Zircuit Launches ZRC Token: Pioneering the Next Era of Decentralized Finance

George Town, Grand Cayman, 22nd November 2024, Chainwire

31 minutes ago

Inflation Warning By Vanguard Amid Tariffs And Labor Issues

Inflation Warning by Vanguard highlights risks during Trump’s term, citing tariffs and tighter labor markets…

47 minutes ago

Clanker Token Trading Volume Hits $59.8 Million High On November 21

Clanker token trading volume hit $59.8M on Nov 21, accounting for 14.75% of PumpFun. Fee…

1 hour ago

Bitcoin Spot ETF Inflows Hit $1 Billion Led By BlackRock

Bitcoin Spot ETF inflows hit $1.005B on Nov 21, led by BlackRock’s $608M and Fidelity’s…

2 hours ago

New York Techie Bagged $72M from $15K Investment in Ethereum — Here’s How BlockDAG Can Offer Similar Jackpot

Discover the success story of a New York tech entrepreneur who made $72M from a…

2 hours ago

This website uses cookies.