Circle Launches CCTP Mainnet on Ethereum and Avalanche

On the evening of April 26, Circle announced the launch of its Cross-chain Transfer Protocol (CCTP) mainnet on Ethereum and Avalanche.

Cross-chain Transfer Protocol (CCTP) is a liquidity bridge solution utilizing USDC, which Circle has planned to deploy since the beginning of 2023. On its official Twitter, Circle shared key details about the mainnet launch on both Ethereum and Avalanche.

1/ Today marks a new milestone! Cross-Chain Transfer Protocol (#CCTP) is now on mainnet for @Ethereum and @Avax. https://t.co/ExIAWywNGt— Circle (@circle) April 26, 2023

With the mainnet launch of CCTP, users can now transfer funds across chains using native USDC tokens, rather than wrapped tokens as previously required. This upgrade aims to minimize the risk of "phantom token minting" attacks and enhance liquidity in cross-chain transfers.

In addition to the mainnet launch on Ethereum and Avalanche, Circle also announced several projects and partners that have integrated CCTP into their products. These include:

• Celer Bridge, Multichain, Wanchain, and Ramrico Protocol (cross-chain bridge solutions)
• Hyperlane, Wormhole, Axelar Core (cross-chain transaction infrastructure solutions)
• LayerZero (omnichain interoperability solution for developers)
• Lifi Protocol (integrating CCTP into its cross-chain routing aggregator, Jumper), Socket Protocol (with its Bungee routing solution), and Router Protocol (featuring its Voyager routing solution)
• MetaMask Bridge (providing bridge services directly within the crypto wallet app)

Initially, Circle’s CCTP applications will include Cross-chain Swap (token transfers between chains), Cross-chain Purchase (buying assets like NFTs on one chain from another), and Cross-chain Deposit (using USDC balances on one chain to open positions on another).

Looking ahead, after successful testing on Ethereum and Avalanche, the CCTP network plans to expand to additional blockchains, with Solana expected to be integrated later in 2023.