"The USDC Bridge allows users to move USDC across supported blockchains without the need for wrapped tokens, liquidity pools, or manual route selection, streamlining the transfer process."
"In a single 24-hour period, the bridge processed over $600 million, showcasing rapid adoption across EVM chains and highlighting the demand for efficient cross-chain solutions."
"The transfer process involves burning USDC on the source chain, with Circle issuing a signed attestation, followed by minting an equal amount on the destination chain, ensuring a secure and efficient transfer."
Circle introduced the USDC Bridge, allowing users to transfer native USDC across blockchains directly. The bridge processed over $600 million in 24 hours, indicating strong adoption. It operates on the Cross-Chain Transfer Protocol (CCTP), which eliminates the need for wrapped tokens or liquidity pools. Users initiate transfers by burning USDC on the source chain, with Circle minting an equal amount on the destination chain. CCTP V1 will be phased out by July 31, 2026, encouraging developers to adopt the upgraded V2 protocol.
Read at news.bitcoin.com
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