Chainlink launches Transporter bridging app for moving crypto cross-chain

Quick Take

  • Chainlink has launched Transporter, an app for moving crypto tokens and messages between blockchains powered by its CCIP. 
  • The project also unveiled a new token transfer mechanism, enabling native ETH to be transferred cross-chain through WETH token pools.

Decentralized computing platform Chainlink LINK -1.00% has launched a bridging app for moving crypto tokens and messages between blockchains, powered by its cross-chain interoperability protocol.

Built in collaboration with the Chainlink Foundation and developer Chainlink Labs, the “Transporter” app aims to provide a user-friendly interface for submitting and monitoring cross-chain transactions on CCIP, according to a statement shared with The Block. 

“Transporter makes it easier to utilize the security benefits of Chainlink CCIP for the transfer of large token value and critical messages across chains,” Chainlink co-founder Sergey Nazarov said. “Having a secure way to move both value and data across chains is something the blockchain industry has needed for years and I’m excited that Transporter is making that more accessible.”

Multi-chain support

Transporter initially supports token transfers across multiple blockchain networks, including Arbitrum, Avalanche, Base, BNB Chain, Ethereum, Optimism and Polygon. It doesn’t charge additional fees beyond existing transaction costs and CCIP service provider fees.

Venture capital firms Fourth Revolution Capital and Moonrock Capital are among the app's early users.

THE SCOOP

Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

“I expect that Transporter will quickly establish itself as the standard for cross-chain enablement for high-value use cases,” Nomatic, a pseudonymous investor at Fourth Revolution Capital, said.

“We’re excited to witness the launch of Transporter, which we expect to play a significant role in bringing secure cross-chain connectivity to a large user base across the blockchain ecosystem,” Moonrock Capital CEO Simon Dedic added.

Chainlink also unveiled a new CCIP token transfer tool on Thursday that enables native ETH to be transferred cross-chain through WETH token pools. This marks the first time a lock-and-unlock mechanism has been implemented in CCIP.

Chainlink rolled out its CCIP in an early access phase on Avalanche, Ethereum, Optimism, and Polygon in July 2023. In January this year, it also integrated Circle’s cross-chain transfer protocol (CCTP) with CCIP for USDC stablecoin transfers across different blockchains.


Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

© 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.

About Author

James Hunt is a reporter at The Block, based in the UK. As the writer behind The Daily newsletter, James also keeps you up to speed on the latest crypto news every weekday. Prior to joining The Block in 2022, James spent four years as a freelance writer in the industry, contributing to both publications and crypto project content. James’ coverage spans everything from Bitcoin and Ethereum to Layer 2 scaling solutions, avant-garde DeFi protocols, evolving DAO governance structures, trending NFTs and memecoins, regulatory landscapes, crypto company deals and the latest market updates. You can get in touch with James on Telegram or 𝕏 via @humanjets or email him at [email protected].

Editor

To contact the editor of this story:
Lawrence Lewitinn at
[email protected]