USDC on Cosmos is getting a major upgrade. Circle, issuer of the USD Coin (USDC) stablecoin, will deploy its cross-chain transfer protocol (CCTP) in collaboration with Noble, a Cosmos token protocol.
This integration will enable seamless USDC transfers between Cosmos and other chains like Ethereum or Avalanche without bridges. Users can send USDC from EVM chains to Cosmos just by burning to a special address monitored by Circle’s API.
Noble’s existing Inter-blockchain Communication Protocol (IBC) integration extends CCTP’s capabilities across all connected Cosmos chains. This provides native, efficient USDC functionality to Cosmos developers and apps.
A testnet is available ahead of the planned mainnet launch this month. USDC currently has a $25 billion market cap, with $20 billion on Ethereum. Cosmos does not yet have a large stablecoin presence, so this upgrade is designed to proliferate USDC supply via IBC.
Circle and Noble’s collaboration solves a major blockchain interoperability challenge. USDC will now work natively across Cosmos and other chains, powering the next generation of DeFi.
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