Chainlink and Circle Collaborate for Cross-Chain Stablecoin Transfers

• Chainlink Integrates Circle's Cross-Chain Transfer Protocol for Simplified USDC Transfers
• Facilitating Cross-Chain Use Cases with CCIP
• Supporting Stablecoin Adoption Across Cross-Chain Use Cases
• Integration Across Multiple Mainnets
• About Chainlink's CCIP and Circle's CCTP

Chainlink Integrates Circle's Cross-Chain Transfer Protocol for Simplified USDC Transfers

Chainlink$15.6 -4.61%'s Cross-Chain Interoperability Protocol (CCIP) has adopted Circle's Cross-Chain Transfer Protocol (CCTP), enabling users to seamlessly transfer USDC across multiple chains, according to an announcement.

Facilitating Cross-Chain Use Cases with CCIP

Developers are now granted the capability to construct cross-chain use cases through CCIP. These can involve cross-chain USDC transfers, inclusive of payments and various DeFi interactions, the announcement explained.

Supporting Stablecoin Adoption Across Cross-Chain Use Cases

The integration seeks to bolster the acceptance and application of stablecoins across a vast range of cross-chain use cases. Sergey Nazarov, co-founder of the decentralized oracle network, highlighted the perceived value of the robust security infrastructure of CCIP, which utilizes multiple decentralization layers, by developers working with USDC.

Integration Across Multiple Mainnets

The integration covers a series of mainnets, consisting of Ethereum$2,315 -2.42%, Arbitrum, Optimism$3.67 -1.41%, Avalanche, and Base. Plans are in place to incorporate more mainnets in the foreseeable future.

About Chainlink's CCIP and Circle's CCTP

Chainlink's CCIP serves as a cross-chain communication software, permitting users to send messages and transfer tokens across diverse blockchains. Conversely, Circle's CCTP functions as an on-chain platform that eases USDC transfers between chains via a process of burning and minting.

Edited by Jonathan Stoker