Sui Network Integrates Cross-Chain Transfer Protocol for USDC

Sui Network, aka Sui Bridge has succeeded in integrating Circle’s Cross-Chain Transfer Protocol (CCTP), allowing users to securely move their USDC stablecoin across Sui and nine other blockchain networks.

This will significantly improve the interoperability and usability of USDC across multiple platforms.

Sui Network’s USDC Upgrade: Frictionless Transfers, Endless Possibilities

Sui Network has integrated Circle’s Cross-Chain Transfer Protocol, which allows users to safely transfer the USDC stablecoin between Sui and eight other blockchain networks.

With the integration, USDC further improves its interoperability to become freely transferable across several blockchain platforms.

Major launch for cross chain apps and services connecting EVM, Solana and Move ecosystems via CCTP. Let the liquidity flow! @SuiNetwork https://t.co/X9m74OMmWm

— Jeremy Allaire – jda.eth / jdallaire.sol (@jerallaire) December 17, 2024

The CCTP currently supports secure, one-to-one USDC transfers on Sui, along with Arbitrum, Avalanche, Base, Ethereum, Noble, OP Mainnet, Polygon PoS, and Solana. This feature easily enables users to move USDC between different blockchain ecosystems without the stress of currency conversion. As it goes on cross-chain transfers, transaction fees for sending and receiving chains generate an effective transfer. Sui has been one of the biggest gainers in the last week, gaining over 30% in only one day.

The protocol works by using the native burn-and-mint mechanism: the original USDC gets burned on the source chain, while new native USDC is minted on the destination chain. This way, the value of the USDC will always stay pegged to the US dollar. This integration requires no third-party liquidity or fillers, thus guaranteeing high capital efficiency and minimizing trust assumptions.

CCTP’s integration into Sui Bridge increases the utility of USDC, supporting a wide range of use cases across blockchain networks. For instance, developers can enable cross-chain onboarding for apps, users can withdraw $USDC on exchanges, and ecommerce stores can accept payments from multiple blockchains with ease.

USDC Bridges Connect a Multitude of Blockchains

The ecosystem now supports 72 unique routes for $USDC transfers, enabling many-to-many transactions between supported blockchains. Recently, Binance revealed that it entered into a strategic partnership with Circle Internet Group Inc. to boost global USDC and crypto adoption.

Wormhole enables the protocol across the Sui applications with Wormhole Connect-a embeddable widget for frictionless cross-chain transfers. Secondly, the Sui Bridge embeds Wormhole Connect, powered by the power of CCTP, making it easier to send $USDC directly to Sui. Portal supports the protocol, enabling fast and frictionless USDC via Wormhole Connect; Router provides support for Sui with CCTP-enabled better cross-chain bridging.

Interport integrates the protocol into its developer tools and cross-chain bridge, allowing seamless USDC transfer. Mayan also supports CCTP and cross-chain bridging via Mayan Swap. Wanchain offers CCTP through its WanBridge, thus enabling developers to enhance their capabilities for cross-chain transfer.

These integrations further power dozens of apps, wallets, bridges, exchanges, and other ecosystem tools to use the protocol; it thus enables seamless, efficient, and secure $USDC transfers across a wide variety of blockchain platforms.

In addition, numerous ecosystem apps like AlphaFiSUI, Bluefin, CetusProtocol, Ensofi, KriyaDEX, SuiLendProtocol, and Turbos_Finance are already live with CCTP routes for Sui.

These integrations further show the increasing adoption of the protocol in facilitating seamless and secure cross-chain transfers for both developers and users across blockchain networks.

With the protocol’s robust framework, Sui Bridge is paving the way for a more interoperable blockchain ecosystem that supports seamless, secure, and efficient USDC transactions.