Stargate, a composable liquidity transport protocol, has announced its integration with Circle’s cross-chain transfer protocol.
In an announcement on Mar. 19, Stargate (STG) said integrating stablecoin issuer Circle’s Cross-Chain Transport Protocol is a major development.
Per details the platform shared, CCTP will bring native USDC (USDC) transfers to Stargate Finance’s users. CCTP, which Circle recently upgraded to enhance its functionality, will help Stargate users transfer native USDC across several supported networks.
This means 1:1 capital efficiency for users on Ethereum, Solana and Aptos, as well as layer 2 scaling solutions Base, Optimism and Arbitrum. CCTP on Stargate will also support native USDC transfers between the decentralized finance protocol and Avalanche and Polygon.
“By integrating Circle’s CCTP, Stargate expands its reach and ability to serve more users and ecosystems, with seamless value transfer,” the protocol posted on X.
Stargate’s integration of CCTP comes just days after Circle launched an upgraded version of the cross-chain transport protocol. The unveiling of CCTP v2, according to Circle, offers an enhanced version of the solution, with the main improvement being the slashing of transaction times for transfers to Ethereum and layer 2s from minutes to seconds.
Typically, such transactions have taken 13-19 minutes. But CCTP v2 cuts this to seconds via the Faster Transfer feature. Circle’s Hooks feature also adds to overall efficiency with automatic swaps and treasury management.
“The launch of CCTPv2 is a huge leap forward in building fast, secure and simple to use financial applications onchain. It enables cross-chain USDC movement in seconds (fast finality), new developer hooks to connect automation and composability with transfers, and high security,” Jeremy Allaire, co-founder and chief executive officer of Circle, said at the time.
Recently, bridged USDC Standard went live on Story, the Stargate Hydra chain that allows for tokenization of intelligence. Leveraging bridged USDC will allow developers to continue building high-quality dApps as users benefit from value transfer across the blockchain network.
The deployment means users can use the bridged version of the stablecoin to move value from and to more than 30 networks connected to Stargate.
