Stargate, a versatile liquidity transport protocol, has revealed its integration with Circle’s cross-chain transfer protocol.
In a statement issued on March 19, Stargate (STG) highlighted that the integration of Circle’s Cross-Chain Transport Protocol marks a significant milestone.
According to the information shared by the platform, the CCTP will enable native USDC (USDC) transfers for users of Stargate Finance. Circle has recently improved this protocol to enhance its capabilities, which will assist Stargate users in transferring native USDC across multiple supported networks.
This development allows for 1:1 capital efficiency for users operating on Ethereum, Solana, and Aptos, in addition to layer 2 scaling solutions like Base, Optimism, and Arbitrum. Furthermore, CCTP on Stargate will facilitate native USDC transfers between the decentralized finance protocol and both Avalanche and Polygon.
“With the integration of Circle’s CCTP, Stargate is broadening its outreach and enhancing its ability to serve additional users and ecosystems with a seamless value transfer,” the protocol shared on X.
Stargate’s incorporation of CCTP occurred shortly after Circle launched an upgraded version of its cross-chain transport protocol. The introduction of CCTP v2, as highlighted by Circle, brings enhancements, particularly reducing transaction times for transfers to Ethereum and layer 2s from minutes to mere seconds.
Traditionally, these transactions have required between 13-19 minutes. However, the Faster Transfer feature in CCTP v2 reduces this to just seconds. Additionally, Circle’s Hooks feature enhances overall effectiveness by automating swaps and improving treasury management.
“The launch of CCTPv2 represents a significant advancement in the creation of fast, secure, and user-friendly financial applications on-chain. It facilitates cross-chain USDC transfers in seconds (fast finality), introduces new developer hooks for automation and composability, and enhances security,” Jeremy Allaire, co-founder and CEO of Circle, mentioned at the time.
Recently, the bridged USDC Standard debuted on Story, Stargate’s Hydra chain that supports the tokenization of intelligence. Utilizing bridged USDC will empower developers to continue building high-quality decentralized applications while users benefit from value transfers across the blockchain ecosystem.
This deployment enables users to leverage the bridged version of the stablecoin to transfer value to and from over 30 networks linked to Stargate.