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NewsCeler cBridge Integrates with Circle's Cross-Chain Transfer Protocol

Celer cBridge Integrates with Circle's Cross-Chain Transfer Protocol

Dec 07,2022,07:59

Blockchain interoperability protocol Celer announced its cross-chain payment network cBridge is integrating with Circle's $USDC Cross-Chain Transfer Protocol, and is supporting $USDC transfers across the Goerli testnet and Avalanche testnet.

Circle announced the launch of Cross-Chain Transfer Protocol in September, which aims to allow users and developers to send and transact in $USDC natively across different blockchains. Using Cross-Chain Transfer Protocol, when a user initiates a sending of $USDC from one chain to another, the $USDC on the source chain will be sent to a smart contract and be burned, not locked. Then the same amount of $USDC will be minted natively on the destination chain.

Cross-Chain Transfer Protocol will be launched in January 2023. When it's live on cBridge mainnet, users will be able to transfer $USDC natively between Ethereum and Avalanche.

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