Native USDC on Aptos Coming Soon to Boost DeFi and P2P Transactions

Key Points:

• Circle will integrate native USDC and the Cross-Chain Transmission Protocol (CCTP) on the Aptos blockchain.
• Bridged USDC from Ethereum will transition to native USDC on Aptos over time, with the bridged version being renamed “lzUSDC” on block explorers.

Circle will integrate native USDC and the Cross-Chain Transmission Protocol onto the Aptos blockchain.

Read more: First Bitwise Aptos Staking ETP Will Be Launched in Europe

Circle Expands Native USDC on Aptos Blockchain

The move will see developers utilize USDC on Aptos in creating dApps on a wide array of sectors, including DeFi, peer-to-peer payments, cross-border remittances, global commerce, and gaming.

Currently, Aptos supports the Ethereum-bridged USDC, which is in circulation above $140 million. In conjunction with CCTP, native USDC is likely to bolster the DeFi connectivity of the blockchain and facilitate seamless asset transfers between chains.

Bridged USDC to Transition to Native USDC on Aptos

Bridge providers like Stargate, building on LayerZero, will be crucial to enabling the bridge to migrate to native USDC on Aptos. Conversely, AptosBridge, also a product of LayerZero, will remain operational without changes, although the name of the bridged USDC will be changed to “lzUSDC” in block explorers. The ecosystem applications will be updated to reflect this change in their user interfaces and documentation.

In related news, CoinDesk reported that Stripe expanded its crypto products to Aptos, which allows merchants to move cash between traditional payment systems and blockchain networks. The payments company will also let customers convert government-issued currencies into USDC using crypto wallets powered by Aptos.