CandleFocus

Circle’s USDC Cross-Chain Transfer Protocol (CCTP) is now live on Sui Network

Circle has introduced the Cross-Chain Transfer Protocol for the Sui Network, enabling users to transfer the stablecoin USDC across nine different blockchains. Sui Network developers can integrate the protocol into their applications to allow direct deposits from different blockchains. The protocol utilizes Circle's security technology to securely move USDC between decentralized networks through a burn-and-mint process. The protocol eliminates the need for third-party liquidity providers, increasing capital efficiency. Various applications, wallets, bridges, and exchanges, including Wormhole, Sui Bridge, and Wanchain, now support the cross-chain protocol. The integration expands the use cases for USDC and boosts stablecoin usage in the crypto ecosystem.

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