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<a href="https://bitcoinworld.co.in/circle-launches-cross-chain-transfer-protocol-cctp-to-enhance-stablecoin-liquidity-on-solana/" title="Circle Launches Cross-Chain Transfer Protocol (CCTP) To Enhance Stablecoin Liquidity On Solana" rel="nofollow"></a>
<ul> 
 <li style="font-weight: 400">Stablecoin issuer Circle is introducing its Cross-Chain Transfer Protocol (CCTP) to enhance stablecoin liquidity on Solana.</li> 
 <li style="font-weight: 400">Solana’s top executive highlights CCTP’s potential to streamline stablecoin transfers on the network from various networks.</li> 
 <li style="font-weight: 400">This move aligns with Solana’s emergence as a powerhouse for stablecoin transactions, with USDC transfer volumes soaring.</li> 
</ul> 
Stablecoin issuer Circle is enhancing liquidity on Solana through the forthcoming launch of its Cross-Chain Transfer Protocol (CCTP) on the network. 
This protocol enables users to seamlessly transfer USDC across supported blockchain networks by burning and minting the stablecoin.&nbsp; 
CCTP operates on seven networks: Ethereum, Avalanche, Base, Noble, Arbitrum, OP Mainnet, and Polygon PoS. 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/binance-to-launch-xrp-usdt-options-trading-service/" aria-label="“Binance To Launch XRP/USDT Options Trading Service” (Edit)">Binance To Launch XRP/USDT Options Trading Service</a> 
<h3 id="span-style-font-weight-400-cctp-to-boost-solana-stablecoin-liquidity-span">CCTP To Boost Solana Stablecoin Liquidity</h3> 
Circle has unveiled a pre-mint address allowing CCTP to mint USDC on Solana before the March 26 launch.&nbsp; 
This strategic move empowers Circle to establish and maintain a USDC balance on Solana. However, the pre-minted tokens await inclusion in the circulating supply until Circle’s formal authorization. 
Austin Federa, Solana’s head of strategy, <a href="https://twitter.com/Austin_Federa/status/1766164252820152602">noted</a> that CCTP streamlines USDC stablecoin transfers from various networks to Solana.&nbsp; 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 CCTP will enable frictionless flows of USDC stablecoins from almost any network to Solana, without having to pass through a centralized exchange or rely on token wrapping. 
 My hope is this paves the way for on-chain payroll, superchanges Solana Pay, and makes it even easier for… <a href="https://t.co/41DZxilqbs">https://t.co/41DZxilqbs</a> 
 — Austin Federa | <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f1fa-1f1f8.png" alt="🇺🇸" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@Austin_Federa) <a href="https://twitter.com/Austin_Federa/status/1766164252820152602?ref_src=twsrc%5Etfw">March 8, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
He also highlighted the protocol’s potential to catalyze innovations such as on-chain payroll and the accessibility of Solana for users from diverse networks. 
Meanwhile, Anatoly Yakovenko, Solana’s co-founder, <a href="https://twitter.com/aeyakovenko/status/1766197767628824881">echoed</a> similar sentiments, adding that CCTP could act as a seamless bridge for frictionless Real World Assets (RWA). 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 CCTP is what I imagine a frictionless RWA bridge will look like. <a href="https://twitter.com/circle?ref_src=twsrc%5Etfw">@circle</a> continues to ship amazing technology that improves user experience and safety. <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f9be.png" alt="🦾" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f9be.png" alt="🦾" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f9be.png" alt="🦾" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/kL6vw6wGRP">https://t.co/kL6vw6wGRP</a> 
 — toly <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f1fa-1f1f8.png" alt="🇺🇸" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@aeyakovenko) <a href="https://twitter.com/aeyakovenko/status/1766197767628824881?ref_src=twsrc%5Etfw">March 8, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
“CCTP is what I imagine a frictionless RWA bridge will look like. Circle continues to ship amazing technology that improves user experience and safety,” Yakovenko said. 
USDC, the second-largest stablecoin by market capitalization, has <a href="https://www.tradingview.com/symbols/USDC/">witnessed</a> a 22% surge in its supply to around $30 billion.&nbsp; 
This increase indicates the positive market sentiment that has propelled Bitcoin and Ethereum prices to record highs. 
Circle’s initiative to enhance stablecoin liquidity on Solana aligns with the network’s emergence as a powerhouse for stablecoin transactions.&nbsp; 
As of March 8, Solana’s USDC transfer volume surpassed that of USDT on TRON and Ethereum blockchains by over $4 billion each. 
See Also: <a class="row-title" href="https://bitcoinworld.co.in/forbes-names-shiba-inu-among-the-top-10-cryptos-to-invest-in/" aria-label="“Forbes Names Shiba Inu Among The Top 10 Cryptos To Invest In” (Edit)">Forbes Names Shiba Inu Among The Top 10 Cryptos To Invest In</a> 
Meanwhile, market observers have attributed this laudable milestone to Solana’s active DeFi sector.&nbsp; 
On-chain <a href="https://defillama.com/chain/Solana">data</a> from DeFiLlama shows the total value of assets locked (TVL) on the network currently stands at $3.165 billion. It has doubled from the $1.4 billion recorded in January. 
These developments have also catalyzed Solana’s native SOL token, which has reached a two-year high of $150 despite past ties to defunct FTX and network disruption issues. 
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote> 
&nbsp; 
#Binance #WRITE2EARN 
The post <a href="https://bitcoinworld.co.in/circle-launches-cross-chain-transfer-protocol-cctp-to-enhance-stablecoin-liquidity-on-solana/">Circle Launches Cross-Chain Transfer Protocol (CCTP) To Enhance Stablecoin Liquidity On Solana</a> appeared first on <a href="https://bitcoinworld.co.in">BitcoinWorld</a>.

Circle Launches Cross-Chain Transfer Protocol (CCTP) To Enhance Stablecoin Liquidity On Solana

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