KEY TAKEAWAYS
- Sui Bridge integrates Circle’s Cross-Chain Transfer Protocol, enhancing USDC transfers across multiple blockchain networks.
- The integration allows native USDC transfers between Sui and eight other chains, improving interoperability.
- CCTP’s process involves burning and minting USDC, ensuring seamless value transfer without currency conversion.
- This development positions Sui Bridge as a centralized platform for cross-chain asset transfers.
Sui Bridge has announced the integration of Circle’s Cross-Chain Transfer Protocol (CCTP), enabling users to transfer the USDC stablecoin natively between Sui and eight other blockchain networks. This development enhances the utility of Sui Bridge and streamlines the process of moving USDC across different chains.
The CCTP facilitates secure, one-to-one USDC transfers across Arbitrum, Avalanche, Base, Ethereum, Noble, OP Mainnet, Polygon PoS, and Solana, in addition to the newly added Sui. Users transferring USDC across these chains are only required to pay the gas fees associated with the transactions on the originating and destination chains.
As part of the transfer process, CCTP burns the original USDC and mints new USDC native to the destination chain. Since USDC’s value is pegged to the US dollar, there is no need for currency conversion during these transactions.
Sui Bridge, which launched in September, functions as a native bridge on the Sui network and currently supports transfers between SUI and ETH. The integration of CCTP into Sui Bridge provides users with a centralized platform for asset transfers, thereby increasing interoperability between different blockchain networks.
For more details on this integration, visit the official announcement here.
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