#TopCoinsSeptember2024
Sui Bridge integrates Circle cross-chain transfer protocol for USDC transfers
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Sui Bridge Integrates Circle's Cross-Chain Transfer Protocol for USDC Transfers
According to Odaily, Sui Bridge has successfully integrated Circle's Cross-Chain Transfer Protocol (CCTP), enabling users to directly transfer the USDC stablecoin between Sui and eight other blockchain networks. This integration enhances the interoperability of USDC, allowing seamless transfers across multiple platforms.
The CCTP now supports secure one-to-one USDC transfers not only on the newly added Sui but also on Arbitrum, Avalanche, Base, Ethereum, Noble, OP Mainnet, Polygon PoS, and Solana. This development simplifies the process for users who wish to move USDC across different blockchain ecosystems. Users are required to pay transaction fees on both the origin and destination chains during cross-chain transfers.
The protocol operates by burning the original USDC on the source chain and minting new native USDC on the destination chain. This mechanism ensures that the value of USDC remains pegged to the US dollar, eliminating the need for currency conversion during the transfer process. The integration of CCTP into Sui Bridge marks a significant step in enhancing the utility and accessibility of USDC across various blockchain networks.
The CCTP now supports secure one-to-one USDC transfers not only on the newly added Sui but also on Arbitrum, Avalanche, Base, Ethereum, Noble, OP Mainnet, Polygon PoS, and Solana. This development simplifies the process for users who wish to move USDC across different blockchain ecosystems. Users are required to pay transaction fees on both the origin and destination chains during cross-chain transfers.
The protocol operates by burning the original USDC on the source chain and minting new native USDC on the destination chain. This mechanism ensures that the value of USDC remains pegged to the US dollar, eliminating the need for currency conversion during the transfer process. The integration of CCTP into Sui Bridge marks a significant step in enhancing the utility and accessibility of USDC across various blockchain networks.
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