USDC on World Chain unlocks new experiences for developers and institutions

Source Cryptopolitan

Circle announced that native USDC and CCTP V2 were live on World Chain, following the Bridged USDC Standard to native upgrade. The upgrade enhanced liquidity, security, and capital efficiency for developers and users across the World Chain ecosystem.

Circle and World confirmed that Circle will issue USDC as native stablecoins directly on the World Chain. The new native USDC is fully backed by U.S. dollars and complies with all applicable regulations, making it a practical option for trading, payments, and financial services. 

Additionally, CCTP V2 is available on World Chain for cross-chain USDC transfers to Avalanche, Base, Ethereum, and Linea. The change preserved existing integrations without requiring action from developers or users, streamlining the transition and maintaining compatibility with current applications.

Circle Mint accounts can also be used to directly convert fiat to USDC on World Chain and back to fiat the same way. Circle Mint also enables the swapping of USDC across supported blockchains, such as swapping USDC on Ethereum for USDC on World Chain, without needing a third-party bridge.

USDC on World Chain unlocks new experiences for developers and institutions

Circle disclosed that all verified users on World Chain can send remittances using its dollar-pegged stablecoin without incurring high transfer fees. Eligible businesses registered on the World Chain can also access institutional on/off-ramps via Circle Mint. Additionally, developers can build using USDC directly into World App Mini Apps and tap into its globally distributed blockchain.

Circle also claimed that USDC fueled innovation in DeFi, payments, financial services, and more, enabling dollar-backed trading and global settlement for developers and users. USDC is now supported natively on 21 blockchains, following the addition of World Chain. Native USDC on World Chain got day 1 support on World App, MorphoLabs, BitGo, and Uniswap.

“With native USDC, World Chain developers and users gain trust, stability, and global access from the world’s largest regulated stablecoin. Frictionless access to crosschain liquidity is also now made possible with CCTP V2.”

Circle

Circle disclosed that Bridged USDC (USDC.e) will continue to work for trading, spending, and swapping. Users can swap USDC.e for any supported asset and bridge to other blockchains using 3rd-party bridging providers. The contract address for bridged USDC will also remain unchanged after the upgrade to native USDC.

CCTP V2 enables cross-chain app onboarding for developers 

Circle claimed that CCTP V2 will enable cross-chain onboarding for apps on World Chain by allowing USDC deposits directly from supported blockchains. Developers and their users can transfer USDC securely between World Chain and supported blockchains almost instantly.

World Chain also stated that CCTP V2 will enable cross-chain interoperability with USDC transfers across supported blockchains and the ability to automate post-transfer actions via Hooks. Integrated USDC support for Mini Apps means that developers building Mini Apps will access the regulated digital dollar to create use cases like P2P payments, savings, and e-commerce.

Circle also added that users can meet withdrawal demand for its stablecoin on World Chain through their exchanges by rebalancing 1:1 with CCTP V2 behind the scenes. Users can also accept USDC payments for their marketplace from multiple blockchains. They will never need to consider which supported blockchain the USD Coin payment came from.

The World Chain team pointed out that there will also be no need to lock up liquidity or rely on third-party fillers because CCTP V2 maximizes capital efficiency and minimizes trust assumptions. Apps, bridges, exchanges, and infrastructure providers are expected to support CCTP V2 on World Chain, with Across Protocol, Bungee exchange, CCTPMoney, Daimo Pay, Interport Finance, Wormhole Portal, Router Protocol, SOCKET Protocol, and the Superbridge App live on day 1.

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