In a groundbreaking move, Circle, the company behind the leading stablecoin USDC, has teamed up with Solana to facilitate cross-chain transfers of USDC onto Solana’s high-performance blockchain. This integration utilizes Circle’s cross-chain transfer protocol (CCTP), designed to securely transfer USDC across different blockchain ecosystems through a native minting and burning process.
With this partnership, developers building on Solana can now seamlessly swap USDC from Ethereum, Avalanche, Arbitrum, Optimism, Polygon, and other EVM-compatible chains. The protocol also supports non-EVM blockchains, expanding its reach further.
CCTP made its debut in the non-EVM space last year through a collaboration with Noble, a Cosmos-based token bridge. By leveraging Noble’s connection to the Cosmos IBC protocol, CCTP gained compatibility across all Cosmos-based chains.
Several prominent Solana ecosystem projects, including Wormhole, Allbridge, Mayan Finance, and Solend Protocol, will support CCTP from launch. More integrations are anticipated in the coming weeks.
Traditional blockchain bridges often introduce trust assumptions and high fees. As the issuer of USDC, Circle’s CCTP aims to provide a trusted and cost-effective solution for cross-chain stablecoin transfers, fostering greater interoperability in the evolving crypto landscape.
