The Solana network is about to achieve a major milestone with the integration of USD Coin (USDC), one of the world’s leading stablecoins.
The Solana network is about to achieve a major milestone with the integration of USD Coin (USDC), one of the world’s leading stablecoins.
This development comes as the launch of the Cross-Chain Transfer Protocol (CCTP) rapidly approaches, signaling a potential game-changer for the blockchain industry.
CCTP is expected to launch on the Solana mainnet on March 26, a major milestone that was praised by Circle’s co-founder and CEO. Jeremy Allairewho tweeted: “A big release is coming.”
Ahead of the launch of CCTP on the Solana mainnet, Circle says it has updated information for developers to create integrations on the Solana devnet.
Cross-Chain Transfer Protocol (CCTP) is an on-chain utility that facilitates USDC transfers between blockchain networks through native recording and minting. Circle designed this on-chain program to drive capital efficiency and reduce trust needs when transferring USDC across blockchain networks.
Developers can use the Cross-Chain Transfer Protocol to create innovative cross-chain applications that combine the numerous capabilities of trading, lending, payments, NFTs, gaming, and more.
Solana is a layer 1 blockchain, where USDC is natively issued as an SPL token; therefore, CCTP would be implemented in Solana as two anchor programs. Solana CCTP programs are written in Rust and leverage the Anchor framework.
Solana, in particular, would be the second non-AVM chain to introduce the CCTP feature.
Circle Cross-Chain Transfer Protocol (CCTP) was launched on the Noble mainnet in November 2023 to offer users easy exchange.
Noble is a Cosmos application-specific blockchain that enables the issuance of native assets within the Cosmos ecosystem. USDC is issued natively on Noble and can be transferred via Inter-Blockchain Communication Protocol (IBC) to other Cosmos app chains or CCTP to any supported domain (Ethereum).
