Monday, July 15, 2024

Integration of Circle’s CCTP by Across Protocol Accelerates and Lowers Costs of $USDC Transactions

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Across Protocol recently announced the successful integration of Circle’s Cross-Chain Transfer Protocol (CCTP), marking a significant advancement in $USDC bridging. This integration aims to enhance transfer speeds and reduce fees, providing users with a more efficient and cost-effective experience.

The announcement, made through Across Protocol’s official X account, highlighted the benefits of this integration. Leveraging its intents-based architecture, third-party relayers can now swap between different versions of $USDC, giving users the freedom to choose their preferred version on the destination chain, a feature that sets Across Protocol apart in the industry.

With the integration of CCTP, Across Protocol is set to drastically improve capital efficiency. Previously, relayers had to wait several hours to be repaid $USDC. However, with CCTP, repayment will now occur in under 20 minutes, freeing up more capital for utilization and leading to better pricing and overall user experience.

Across Protocol, a cross-chain bridge secured by UMA’s optimistic oracle, is optimized for capital efficiency through its single liquidity pool, competitive relayer landscape, and zero slippage fee model. Combined with the CCTP integration, this makes Across Protocol a leading solution for $USDC transfers.

Users can expect lower fees and higher speeds on all $USDC transfers, thanks to the improvements in capital efficiency brought by this integration. The enhanced capital utilization and improved user experience underscore Across Protocol’s commitment to providing top-tier cross-chain transfer solutions.

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