TechFlow News: On March 12, the Cross-Chain Transfer Protocol (CCTP) for USDC and Circle has gone live on Morph. As the U.S. dollar-denominated settlement asset on the Morph network, USDC is now issued on Morph by Circle’s regulated affiliates.
CCTP enables 1:1 cross-chain transfers of USDC between Morph and other supported blockchains—by burning the tokens on the source chain and natively minting them on the destination chain—thereby preserving supply integrity. Developers can choose between standard transfers and fast transfers based on their security and timeliness requirements.
Morph states that USDC and CCTP will support U.S. dollar settlement needs across use cases including cross-border remittances, crypto payment cards, payment gateways, as well as DeFi and trading, further advancing onchain payment infrastructure.
