Circle Deploys Native USDC and EURC on Plasma, Integrates CCTP Cross-Chain Protocol

Stablecoin issuer Circle announced on August 28 that it has deployed native USDC and EURC on Plasma, a Layer 1 network focused on stablecoin payments, while also integrating the cross-chain transfer protocol CCTP and the developer tool Bridge Kit. According to contract addresses published by Circle, the maximum total supply of USDC on Plasma is 4,654,322.737666 tokens, held by 6 addresses; EURC supply stands at 12,866.64 tokens, held by 5 addresses. Circle stated that eligible institutional traders and teams can use fiat on-ramp and off-ramp services on Plasma for USDC payments and settlements, with support for deposits, withdrawals, and API operations. Regular users can access USDC via Plasma One, the network's stablecoin app and card, while developers can integrate both tokens into Plasma applications. CCTP enables USDC cross-chain transfers by burning tokens on the source chain, obtaining a Circle-signed attestation, and minting an equivalent amount on the destination chain, eliminating the need for wrapped tokens and liquidity pools. Circle noted that developers can complete cross-chain integration with approximately 10 lines of code using Bridge Kit. Following this launch, the number of chains with native USDC support has increased to 37, EURC to 8, and CCTP now covers 28 chains. Plasma is positioned as a high-speed, low-cost blockchain dedicated to stablecoin payments, and this integration brings Circle's dollar and euro tokens into its payment, settlement, trading, and treasury management use cases.

Source: https://thedefiant.io/converge/blockchains/circle-adds-native-usdc-eurc-and-cctp-support-to-plasma