Solana

Wormhole

USDC

Sphere

Cosmos

Circle, the issuer of popular stablecoin USDC, has partnered with Solana to bring its cross-chain transfer protocol to its blockchain ecosystem. 
Circle designed the cross-chain transfer protocol (CCTP) to enable the secure transfer of USDC between different blockchain ecosystems using the native mint and burn process, as stated on Wormhole’s <a href="https://wormhole.com/connect/" data-type="link" data-id="https://wormhole.com/connect/" target="_blank" rel="noopener">website</a>. 
Solana developers can now natively swap USDC tokens from <a href="https://crypto.news/price/ethereum/" data-type="link" data-id="https://crypto.news/price/ethereum/">Ethereum</a> and other <a href="https://crypto.news/exploring-the-expansive-ecosystem-of-evm-compatible-chains/" data-type="link" data-id="https://crypto.news/exploring-the-expansive-ecosystem-of-evm-compatible-chains/">EVM</a>-compatible ecosystems, including <a href="https://crypto.news/price/arbitrum/" data-type="link" data-id="https://crypto.news/price/arbitrum/">Arbitrum</a>, <a href="https://crypto.news/price/avalanche/" data-type="link" data-id="https://crypto.news/price/avalanche/">Avalanche</a>, <a href="https://crypto.news/price/base/" data-type="link" data-id="https://crypto.news/price/base/">Base</a>, <a href="https://crypto.news/price/optimism/" data-type="link" data-id="https://crypto.news/price/optimism/">Optimism</a>, and <a href="https://crypto.news/price/polygon/" data-type="link" data-id="https://crypto.news/price/polygon/">Polygon</a>. It will also be compatible with non-EVM blockchains as well. 
CCTP first integrated with a non-EVM chain in October last year, when it partnered with Noble, a Cosmos-based token protocol, to bring USDC natively into the <a href="https://crypto.news/price/cosmos-hub/" data-type="link" data-id="https://crypto.news/price/cosmos-hub/">Cosmos</a> ecosystem. 
As Noble is integrated with Cosmos’ inter-blockchain communication protocol (IBC), CCTP is also functionally compatible with all Cosmos chains connected with IBC. 
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 Wormhole Connect is integrating with <a href="https://twitter.com/circle?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@Circle</a>'s Cross-Chain Transfer Protocol <a href="https://twitter.com/hashtag/CCTP?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#CCTP</a> on Solana. Now, developers on <a href="https://twitter.com/solana?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@solana</a> can integrate native USDC transfers directly into their app's interface with just 3 lines of code. CCTP on Solana is debuting with <a href="https://twitter.com/JupiterExchange?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@JupiterExchange</a>. <a href="https://t.co/fV1an72H1Q" target="_blank">pic.twitter.com/fV1an72H1Q</a>— Wormhole (@wormholecrypto) <a href="https://twitter.com/wormholecrypto/status/1772609526904369372?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">March 26, 2024</a>
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A handful of <a href="https://crypto.news/price/solana/" data-type="link" data-id="https://crypto.news/price/solana/">Solana</a> ecosystem players will support CCTP from day one. This includes Wormhole, Allbridge, Mayan Finance, Drift Protocol, Sphere Labs, Cube Exchange, Jupiter Exchange, and Solend Protocol. Additional ecosystem projects are expected to go live in the following weeks. 
Bridging protocols such as the <a href="https://crypto.news/circle-co-founder-says-a-cross-chain-protocol-for-usdc-is-getting-closer-to-launch/" data-type="link" data-id="https://crypto.news/circle-co-founder-says-a-cross-chain-protocol-for-usdc-is-getting-closer-to-launch/">CCTP</a> are essential in the on-chain environment, which enables blockchain networks — which generally operate in siloed environments — to communicate with one another, allowing the transfer of digital assets across various ecosystems. 
Traditional bridging solutions often have a handful of drawbacks, such as introducing additional trust assumptions and requiring users to pay significant gas fees. 
As Circle, the issuer of USDC, designed CCTP, the protocol may be preferred over third-party bridges, especially when transferring <a href="https://crypto.news/tag/stablecoin/" data-type="link" data-id="https://crypto.news/tag/stablecoin/">stablecoin</a> across different ecosystems. 
 Read more: <a href="https://crypto.news/tether-ai-division-hiring-launch/"> Tether launches AI division, conducts hiring search </a>

Circle, Solana team up to boost USDC interoperability

crypto.news

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