The creator of the #USD Coin stablecoin, Circle, announced that the Layer 2 scaling solution for Ethereum, Arbitrum, now supports its Cross-Chain Transfer Protocol. The protocol aims to make it possible to move USDC more quickly and securely between different chains, such as #Ethereum, #Avalanche, and #Arbitrum.

By burning the native #USDC on the initial chain and minting an identical quantity on the recipient chain, CCTP makes it possible to transfer USDC between various blockchain networks. According to Circle, Arbitrum is the third chain supporting CCTP and is operational on the official Arbitrum Bridge.