Chainlink CCIP Integrates Circle's CCTP to Support Cross-Chain USDC Transfers

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Jan 16, 2024, 10:00 ET

Through CCIP, Chainlink's expansive blockchain developer ecosystem can now natively access one of the most liquid digital assets

SAN FRANCISCO, Jan. 16, 2024 /PRNewswire/ -- Chainlink, the industry-standard decentralized computing platform, announced today that the Chainlink Cross-Chain Interoperability Protocol (CCIP)—the industry standard for secure cross-chain interoperability— has integrated Circle's Cross-Chain Transfer Protocol (CCTP) to provide users with a secure and reliable way to transfer USDC across chains. Developers can now start building secure cross-chain applications using Chainlink CCIP to utilize USDC across the multi-chain ecosystem.

Our integration of CCTP opens up new use cases with USDC, such as seamless and secure cross-chain transfers, payments and other DeFi interactions for protocols building with Chainlink CCIP.

"We're excited to support the adoption of stablecoins across a variety of cross-chain use cases. I'm pleased to see that the defense-in-depth security infrastructure of CCIP, with multiple layers of decentralization, is something highly valued by developers building with USDC. It's also exciting to see CCIP's advanced risk management features have such a value-added role to play in how USDC can be sent in a way that complies with various key user requirements."—Sergey Nazarov, Co-Founder, Chainlink

Chainlink has a proven track record of maintaining the highest standard of security and reliability in the blockchain industry. Furthermore, CCIP is backed by the Risk Management Network—a separate, independent network that continually monitors and verifies cross-chain operations for anomalous activity. Chainlink CCIP's level-5 security infrastructure is particularly important given historical industry exploits and the billions in user funds lost due to insecure and unreliable cross-chain infrastructure.

CCTP is a permissionless on-chain utility that enables developers to provide users with a secure and capital-efficient way to transfer USDC across chains. Chainlink's expansive blockchain developer ecosystem can now leverage CCIP and CCTP to build applications that support the seamless transfer of USDC across chains.

About Chainlink
Chainlink is the industry-standard decentralized computing platform powering the verifiable web. Chainlink has enabled over $9 trillion in transaction value by providing financial institutions, startups, and developers worldwide with access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain. Chainlink powers verifiable applications and high-integrity markets for banking, DeFi, global trade, gaming, and other major sectors.

Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link.

About Circle
Circle is a global financial technology firm that enables businesses of all sizes to harness the power of digital currencies and public blockchains for payments, commerce and financial applications worldwide. Circle is the issuer of USDC and EURC - highly liquid, interoperable, and trusted money protocols on the internet. Circle's open and programmable platform and APIs make it easy for organizations to run their internet-scale business, whether it is making international payments, building globally-accessible Web3 apps or managing their internal treasury. Learn more at https://circle.com.

SOURCE Chainlink; Circle