Stablecoin issuer Circle has launched USDC Bridge, a recent user interface built on top of the Cross-Chain Transfer Protocol (CCTP) that aims to simplify native cross-chain transfers of USDC stablecoins.
Circle USDC X account on Friday he said bridge allows users to transfer USDC stablecoin (USDC) in a “predictable and transparent manner,” citing the bridge’s native burn-and-mint transfer mechanism and lack of complexity.
Gas fees will be calculated automatically, displayed upfront, and status updates will be updated throughout the transfer, Circle added.
USDC Bridge is powered by Circle’s CCTP platform, which was launched in April 2023 and enables the transfer of hundreds of millions of stablecoins on a daily basis.
CCTP eliminated the need for packaged and synthetic versions of USDC.
Cross-chain bridges aim to ensure interoperability of the broader crypto ecosystem, functioning as a unified network rather than a collection of fragmented, isolated blockchains.
Making bridges as basic and effortless to exploit as possible has been a focus of many crypto infrastructure companies.
In the past, bridges confused users and likely slowed cryptocurrency adoption, especially for beginners who had difficulty navigating bridge interfaces, trade routes, and gas fees.
USDC Bridge supports over a dozen blockchains
Cointelegraph discovered that USDC Bridge supports USDC transfers between at least 17 blockchains compatible with the Ethereum Virtual Machine, including Ethereum, Avalanche, Arbitrum, Base, Monad, Optimism, Polygon, Sonic, and World Network.
Related: Ukraine arrests cybercrime suspect wanted by FBI and seizes assets worth $11 million
Circle’s CCTP supports a wider number of blockchains, including Solana, Sui, and Aptos, which are not natively compatible with EVM.
On Wednesday, a class action lawsuit was filed against Circle for failing to freeze approximately $230 million worth of USDC that passed through its CCTP on April 1 as a result of a Drift Protocol exploit.
Circle is charged with aiding and abetting conversion and negligence.
The class action lawsuit involves over 100 members. The law firm Mira Gibb representing them is demanding compensation, the final amount of which will be determined at the hearing.
Warehouse: Are DeFi creators responsible for other people’s illegal activities on their platforms?
