Circle has announced the launch of its native stablecoin, USDC, and the Cross-Chain Transfer Protocol (CCTP) on the Starknet network. This integration facilitates stablecoin settlement and enables efficient cross-chain transfers, leveraging the capabilities of zero-knowledge (ZK) rollups.
The introduction of CCTP allows for secure and capital-efficient transfers of native USDC between Starknet and other supported blockchains without the need for wrapped assets. This functionality is expected to enhance the scalability of Starknet, providing a significant boost to its decentralized finance (DeFi), gaming, and payments sectors.
With the deployment of USDC directly on Starknet”s mainnet, developers and users can now access the world”s largest regulated stablecoin for various applications, including DeFi trading, which will support spot and perpetual trading with collateral and around-the-clock settlement on decentralized exchanges.
The previous method of using “Bridged USDC,” represented by the token symbol USDC.e, has been phased out in favor of this new integration. While USDC.e tokens will remain functional, Circle plans a gradual migration of liquidity from these older bridged tokens to the newly introduced native USDC.
This advancement opens new avenues for liquidity access, enabling developers to utilize a permissionless cross-chain infrastructure. Users can now move native USDC between Starknet and other chains seamlessly, enhancing user onboarding and treasury management through lower-cost transfers.
In the context of DeFi, the deployment of USDC is set to enrich trading, lending, and settlement capabilities for various protocols such as avnu, Ekubo, and Vesu. Additionally, in the gaming sector, native USDC will serve as a reliable medium of exchange within in-game economies and facilitate affordable peer-to-peer settlements globally, benefiting platforms like Ready and Xverse.
The integration of USDC and CCTP positions Starknet to align with crucial interoperability standards for stablecoins. This robust framework equips developers and users with essential tools to build scalable, high-speed, and secure applications, supported by the trust and regulatory framework that underpins the stablecoin.
Overall, the launch of native USDC and CCTP on Starknet represents a significant milestone in enhancing cross-chain capabilities and scalability, paving the way for increased adoption and innovation across the blockchain ecosystem.
