Svmuu News USDC and Circle's Cross-Chain Transfer Protocol (CCTP) are now live on Morph. USDC serves as the dollar-denominated settlement asset within the Morph network and is now issued on Morph by Circle's regulated affiliates.
CCTP enables the cross-chain transfer of USDC between Morph and other supported blockchains at a 1:1 ratio, meaning it is burned on the source chain and natively minted on the destination chain, thereby maintaining supply integrity. Developers can choose between standard transfer and fast transfer modes based on their security and timeliness requirements.
Morph stated that USDC and CCTP will support dollar settlement needs in scenarios such as cross-border remittances, crypto payment cards, payment gateways, as well as DeFi and trading, and will further advance the development of on-chain payment infrastructure.