Stablecoin firm Circle says that USDC is now extra accessible following the launch of the Cross-Chain Switch Protocol (CCTP) on the Cosmos (ATOM)-based blockchain Noble.
Circle created CCTP to facilitate the motion of the dollar-pegged USDC throughout completely different blockchains and Noble is an app chain, a community constructed to energy a single app, that permits cross-chain asset transfers.
In a collection of tweets on social media platform X, Circle says that CCTP is now stay on the Noble mainnet.
“It’s time to unleash the onboarding of customers into the Cosmos ecosystem.
CCTP allows safe USDC transfers between blockchains through a local burn-and-mint course of. With CCTP on Noble XYZ mainnet, Cosmos appchains can compose CCTP & IBC (Inter-Blockchain Communication) performance to onboard customers immediately from Ethereum & different supported networks.”
The issuer of the second-largest stablecoin says CCTP allows the one-click switch of USDC throughout blockchains together with Arbitrum (ARB), Avalanche (AVAX), Base, Ethereum (ETH), Noble and Optimism (OP), which ends up in zero slippage.
“Without having to lock up liquidity or add belief assumptions, CCTP gives a safer and capital-efficient option to transfer USDC throughout chains.”
Circle says CCTP on Noble is already supported by quite a lot of apps, wallets and bridges together with decentralized alternate dYdX and cross-chain router Squid. The fintech agency says extra companions are anticipated to hitch the roster following the launch.
“Any Cosmos appchain can plug into CCTP and IBC to allow seamless USDC flows and consumer onboarding from exterior ecosystems. CCTP empowers builders to construct mainstream UX the place customers by no means want to consider which blockchain they’re holding USDC.”
Earlier this month, DeFiance Capital founder and CEO Arthur Cheong stated that $200 million price of Noble-issued USDC will come to the Cosmos ecosystem.
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