Circle has natively deployed USDC and EURC on the Plasma chain, and simultaneously launched the cross-chain transfer protocol CCTP and Bridge Kit. As a Layer 1, Plasma thus gains native functionality for USD and EUR stablecoins and cross-chain transfers.
CCTP transfers by destroying on the source chain and minting on the destination chain, relying on Circle’s signed proof to complete the transfer. It does not create wrapped USDC, and it does not rely on liquidity pools. Circle states that eligible institutions can connect to fiat on/off-ramp channels via the Plasma on-ramp method, and developers can also integrate USDC and EURC into their applications.
Currently, native USDC supports 37 chains, native EURC supports 8 chains, and CCTP covers 28 chains. The above is a compilation of publicly available information and does not constitute investment advice.
#USDC #Circle #Plasma
CCTP transfers by destroying on the source chain and minting on the destination chain, relying on Circle’s signed proof to complete the transfer. It does not create wrapped USDC, and it does not rely on liquidity pools. Circle states that eligible institutions can connect to fiat on/off-ramp channels via the Plasma on-ramp method, and developers can also integrate USDC and EURC into their applications.
Currently, native USDC supports 37 chains, native EURC supports 8 chains, and CCTP covers 28 chains. The above is a compilation of publicly available information and does not constitute investment advice.
#USDC #Circle #Plasma