Mercuryo - Sponsor Image Mercuryo - Infrastructure powering the crypto economy. Friend & Sponsor Learn more
News

Circle Unveils Dedicated Cross-Chain 'USDC Bridge'

USDC Bridge is Circle’s official, native cross-chain bridging solution powered by its Cross-Chain Transfer Protocol (CCTP).

Circle Unveils Dedicated Cross-Chain 'USDC Bridge'

Circle Circle is packaging its Cross-Chain Transfer Protocol (CCTP) bridging infrastructure into a unified frontend: USDC Bridge.

What's the Scoop?

  • Native Transfers: USDC Bridge will integrate directly with Circle's CCTP, enabling users to move native USDC between blockchains without slippage via its 1:1 burn-and-mint model, nullifying the typical risks of liquidity fragmentation associated with bridging transfers. In practice, users send USDC on a source chain, where it is burned; Circle then mints an equivalent amount of USDC (less fees) on the destination chain and transfers it to the user's account.
  • Multi-Chain Support: Although CCTP is currently deployed to non-EVM blockchain (such as Solana), such transfers involve multiple addresses, creating a more complex transaction flow. Currently, USDC Bridge is only available on 17 EVM-compatible blockchains, including: Arbitrum, Avalanche, Base, Ethereum, HyperEVM, Ink, Polygon Polygon PoS, Sei, and World World Chain.
  • Industry Blowback: Circle's USDC has become an object of ire within the crypto industry in recent weeks after the stablecoin issuer failed to freeze hundreds of millions worth of stolen funds that were bridged via CCTP during a multi-hour period following the April 1 Drift exploit.

Jack Inabinet

1036 posts

Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial real estate development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.

No Responses