SAN FRANCISCO – 18/01/2024 – (SeaPRwire) – Decentralized computing platform giant, Chainlink, unveiled a groundbreaking development today as it integrates the Circle’s Cross-Chain Transfer Protocol (CCTP) into its acclaimed Chainlink Cross-Chain Interoperability Protocol (CCIP). This collaboration establishes CCIP as the gold standard for secure cross-chain interoperability, providing users with an ironclad and dependable mechanism for transferring USDC across various chains. Developers are now empowered to embark on the creation of robust cross-chain applications using Chainlink CCIP, amplifying the utility of USDC within the expansive multi-chain ecosystem.
The incorporation of CCTP by Chainlink opens up a realm of possibilities for USDC, introducing seamless and secure cross-chain transfers, payments, and other DeFi interactions for protocols built on Chainlink CCIP.
Sergey Nazarov, Co-Founder of Chainlink, expressed his enthusiasm for the adoption of stablecoins in diverse cross-chain scenarios. He highlighted the significance of CCIP’s defense-in-depth security infrastructure, featuring multiple layers of decentralization, which resonates strongly with developers utilizing USDC. The advanced risk management features of CCIP play a crucial role in facilitating compliant USDC transactions that align with key user requirements.
Chainlink, recognized for maintaining the highest standards of security and reliability in the blockchain industry, reinforces CCIP with a level-5 security infrastructure. This is particularly noteworthy in light of historical industry exploits and the substantial losses incurred by users due to insecure and unreliable cross-chain infrastructure.
CCTP, as a permissionless on-chain utility, empowers developers to provide users with a secure and capital-efficient method for transferring USDC across chains. The extensive blockchain developer ecosystem of Chainlink is now poised to harness the combined capabilities of CCIP and CCTP, facilitating the creation of applications that seamlessly facilitate the transfer of USDC across diverse blockchain networks.
About Chainlink
Chainlink stands as the unrivaled decentralized computing platform driving the verifiable web. With a legacy that includes enabling over $9 trillion in transaction value, Chainlink empowers financial institutions, startups, and developers globally by granting access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain. Chainlink’s influence extends to verifiable applications and high-integrity markets, spanning banking, DeFi, global trade, gaming, and various major sectors.
Discover more about Chainlink by visiting chain.link or explore the developer documentation at docs.chain.link.
About Circle
Circle emerges as a global financial technology firm, offering businesses of all sizes the ability to leverage digital currencies and public blockchains for payments, commerce, and financial applications on a global scale. As the issuer of USDC and EURC, Circle champions highly liquid, interoperable, and trusted money protocols on the internet. With an open and programmable platform, Circle provides easy-to-use APIs, facilitating organizations to run their internet-scale businesses, whether it’s conducting international payments, building globally-accessible Web3 apps, or managing their internal treasury. Dive deeper into Circle’s offerings at circle.com.
SOURCE Chainlink; Circle
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