Chainlink integrates with Circle’s CCTP protocol for cross-chain USDC transfers

Quick Take

  • Chainlink has integrated Circle’s cross-chain transfer protocol (CCTP) with its CCIP system.
  • The project will use CCTP to handle secure USDC stablecoin transfers across different blockchains.

Decentralized oracle project Chainlink LINK +0.94% has integrated Circle’s cross-chain transfer protocol (CCTP) with its own CCIP system, aiming to securely move the USDC +0.18% stablecoin across blockchains. 

Chainlink said leveraging both technologies will open up new stablecoin use cases around payments and DeFi. “We’re excited to support the adoption of stablecoins across a variety of cross-chain use cases,” said Sergey Nazarov, co-founder at Chainlink. “I’m pleased to see that the defense-in-depth security infrastructure of CCIP, with multiple layers of decentralization, is highly valued by developers building with USDC.”

Both technologies — with similar-sounding acronyms — are designed to link assets across networks. Yet there are distinctions.

Chainlink’s CCIP is a generalized cross-chain messaging framework that allows developers to transfer data and assets across chains — using a smart contract-based mechanism that's powered by Chainlink oracles.

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Meanwhile, Circle — the issuer of USDC — operates CCTP. This is a standardized bridge protocol that lets users make native USDC transfers by burning and minting the stablecoin between supported chains. CCTP is available on seven networks: Arbitrum, Avalanche, Base, Ethereum, Noble, OP Mainnet, and Polygon PoS.

Multiple interoperability-focused protocols and bridge projects — such as Celer Network, Li.Fi, and Wormhole — have already integrated Circle’s CCTP. Chainlink is the latest to do so.


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© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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About Author

Vishal Chawla is The Block’s crypto ecosystems editor and has spent over six years covering tech protocols, cybersecurity, artificial intelligence and cloud computing. Vishal likes to delve deep into blockchain intricacies to ensure readers are well-informed about the continuously evolving crypto landscape. He is also a staunch advocate for rigorous security practices in the space. Before joining The Block, Vishal held positions at IDG ComputerWorld, CIO, and Crypto Briefing. He can be reached on Twitter at @vishal4c and via email at [email protected]

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