USD Coin Goes Live on Aptos Blockchain, Enhancing Cross-Chain Transfer Capabilities

Circle’s stablecoin, USD Coin (USDC), is now available natively on the layer-1 blockchain Aptos, empowering developers and users to leverage its functionality.

The native availability of USDC on Aptos is a significant development, allowing users and developers to directly use USDC without relying on cross-chain bridges. This enhancement enables financial institutions and the broader Aptos user community to tap into USDC liquidity across various applications, including:

  • Decentralized finance (DeFi)
  • Peer-to-peer payments
  • Real-world assets
  • Remittances
  • Gaming

Migration from Bridged USDC to Native USDC

Aptos previously used a bridged version of USDC from LayerZero, known as lzUSDC. This form of the stablecoin was not issued by Circle but was bridged from Ethereum via the AptosBridge on LayerZero. With native support now in place, bridge providers such as Stargate will collaborate with the Aptos ecosystem to facilitate migration from lzUSDC to native USDC.

Circle’s Cross-Chain Transfer Protocol

Circle’s cross-chain transfer protocol will allow interoperability providers to offer USDC transfers across different blockchains. This is similar to what the interoperability protocol Wormhole has implemented. The protocol enables developers to enable native USDC transfers in their decentralized applications “with just 3 lines of code.”

Aptos-based protocols, including Cellana Finance, Echelon Market, Meso, and Thala Labs, are already tapping into this functionality.

“The integration of Circle’s cross-chain transfer protocol on Aptos marks a significant milestone in enhancing the usability and interoperability of USDC.”

As the cryptocurrency landscape continues to evolve, stay up-to-date with the latest news and developments on Global Crypto News.

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