Stablecoin issuer Circle has launched a new user interface called USDC Bridge. The platform simplifies native cross-chain transfers of its USDC stablecoin using the underlying Cross-Chain Transfer Protocol. It aims to provide predictable transfers with upfront fees and automatic gas handling.
Circle has launched the USDC Bridge, a new user interface built on its Cross-Chain Transfer Protocol (CCTP). The bridge seeks to simplify native cross-chain transfers of the USDC stablecoin. The company stated the bridge allows moves in a “predictable, transparent way,” citing a native burn-and-mint mechanism.
Gas fees are handled automatically, with fees shown upfront and live status updates provided. The USDC Bridge builds on CCTP, which was introduced in April 2023 and facilitates hundreds of millions of transfers daily. CCTP eliminated the need for wrapped and synthetic versions of USDC.
Cross-chain bridges aim to make the crypto ecosystem interoperable, functioning as a unified network. Making bridges simple has been an area of focus for many crypto infrastructure firms. In the past, bridges have confused users and arguably slowed adoption, especially for beginners.
The USDC Bridge supports transfers between at least 17 Ethereum Virtual Machine-compatible blockchains. These include Ethereum, Avalanche, Arbitrum, Base, Monad, Optimism, Polygon, Sonic and World Network. Circle’s CCTP supports a broader number of chains, including Solana, Sui and Aptos.
On Wednesday, Circle was hit with a class action for failing to freeze around $230 million worth of USDC. The funds moved through its CCTP from the Drift Protocol exploit on April 1. Circle is accused of aiding and abetting conversion and negligence.
More than 100 members are involved in the class action. The law firm representing them, Mira Gibb, is seeking damages, with the final amount to be determined at trial.
