USDC, Circle's Stablecoin, Now Available on Cosmos via New Cross-Chain Transfer Protocol

Circle’s USDC Expands to Cosmos with Cross-Chain Transfer Protocol

Stablecoin company Circle has announced that its USD Coin (USDC) is now more accessible thanks to the launch of the Cross-Chain Transfer Protocol (CCTP) on the Cosmos-based blockchain Noble. The purpose of CCTP is to enable the movement of USDC across different blockchains, and Noble serves as an app chain that facilitates cross-chain asset transfers.

Circle has confirmed via Twitter that CCTP is now live on the Noble mainnet. This development allows for secure USDC transfers between various blockchains, including Arbitrum, Avalanche, Base, Ethereum, Noble, and Optimism. With CCTP, users can transfer USDC across these chains with just one click and without experiencing any slippage.

Increasing Accessibility and Partnerships

Circle states that CCTP on Noble is already supported by several apps, wallets, and bridges such as dYdX and Squid. More partners are expected to join in the future. Circle emphasizes that any Cosmos appchain can integrate with CCTP and Inter-Blockchain Communication (IBC) to facilitate seamless USDC flows and user onboarding from external ecosystems. This integration aims to create a user experience where individuals do not need to consider which blockchain they hold their USDC on.

Noble’s Role in Expanding USDC Adoption

Earlier this month, DeFiance Capital founder and CEO Arthur Cheong revealed that $200 million worth of Noble-issued USDC will enter the Cosmos ecosystem. This move highlights Noble’s growing importance in expanding USDC adoption.

Hot Take

Circle’s launch of the Cross-Chain Transfer Protocol (CCTP) on the Cosmos-based blockchain Noble marks a significant step in making USDC more accessible and versatile. The protocol enables secure and convenient transfers of the stablecoin across multiple blockchains with zero slippage. By integrating with various apps, wallets, and bridges, Circle aims to enhance the user experience and simplify the process of using USDC on different networks. With Noble’s increasing role in facilitating cross-chain asset transfers, the Cosmos ecosystem is poised to benefit from the expanded adoption of USDC.