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Chainlink Teams Up With Circle to Allow Cross-Chain Stablecoin Transfers

The integration allows developers to build cross-chain use cases via Chainlink's CCIP that involve multichain transfers of Circle's USDC stablecoin.

By Lyllah Ledesma
AccessTimeIconJan 16, 2024 at 3:01 p.m. UTC
Updated Mar 8, 2024 at 8:01 p.m. UTC
Chainlink co-founder Sergey Nazarov speaks at the project's SmartCon conference in Barcelona. (Chainlink)
Chainlink co-founder Sergey Nazarov speaks at the project's SmartCon conference in Barcelona. (Chainlink)
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Chainlink’s Cross-Chain Interoperability Protocol (CCIP) has integrated Circle’s Cross-Chain Transfer Protocol (CCTP) to make it easy for users to transfer USDC across chains, according to a press release.

Developers can now build cross-chain use cases via CCIP that involve cross-chain transfers of USDC, including payments and other DeFi interactions, the statement said.

“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,” said Sergey Nazarov, the decentralized oracle network’s co-founder.

The chains included in the integration are Ethereum, Arbitrum, Optimism, Avalanche and Base mainnets, with others to be added in the near future.

Chainlink’s CCIP is a cross-chain communication software that allows users to message and transfer tokens across different blockchains. Circle’s CCTP is an on-chain platform facilitating USDC transfers between chains via burning and minting.

Edited by Aoyon Ashraf.

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Lyllah Ledesma
Lyllah Ledesma

Lyllah Ledesma is a CoinDesk Markets reporter currently based in Europe. She holds bitcoin, ether and small amounts of other crypto assets.

Follow @LedesmaLyllah on Twitter

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