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Circle has deployed its Cross-Chain Transfer Protocol (CCTP) on the Solana (SOL) mainnet, allowing users to bridge USD Coin (USDC) across different blockchains.
1/ @Circle’s Cross-Chain Transfer Protocol is now live on Solana!
— Solana (@solana) March 26, 2024
Fast, frictionless flows of USDC to Solana from 8 blockchain networks across 56 unique routes are now possible 🔥
All you need to know about #CCTP👇🧵 https://t.co/3InoRf83H8
The CCTP uses the mint & burn mechanism to enhance USDC transfer across various networks.
The latest integration will allow Solana developers to swap USDC assets from EVM-compatible chains, including Ethereum, Arbitrum, Polygon, Optimism, and Base. Further, it will synch with no-EVM platforms.
Multiple Solana ecosystem participants, including Jupiter Exchange, Cube Exchange, Sphere Labs, Wormhole, Mayan Finance, Drift Protocol, and Allbridge, will support CCTP.
On-chain platforms such as CCTP remain vital in the cryptocurrency sector, enhancing communication between blockchains with a smooth transfer of assets.
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