Sui Releases Circle's Native USDC-CCTP

Sui, a Layer 1 blockchain that offers the industry's highest performance and infinite horizontal scalability, is a US dollar-based stable coin USDC and C, a function that supports inter-chain USDC transfers.
They announced that they plan to release CTP (cross-chain transfer protocol) on the Sui network.
USDC, issued through the Circle management organization, is the largest US dollar-based stablecoin in the cryptocurrency industry.
The coin has a market capitalization of over $35 billion as of September 17, 2024. CCTP is an on-chain utility that assists in the transfer of USDC between blockchains, and is used by various
The move is intended to allow transactions via USDC across multiple blockchains to be conducted in a more secure and capital-efficient manner.
The release of native USDC and CCTP brings S for users and developers
The usability, security, and interoperability of Sui will be further enhanced, improving liquidity on the Sui network, streamlining transactions, and market efficiency across the Sui ecosystem.
Operating on the Sui network, Biluda will use native USDC in digital dollar-based financial products across a range of sectors, including DeFi, gaming, DePIN, and e-commerce.
In addition, more than $600 million in TVL, more than $215 million in bridged USDC, and DE
Ranked in the top 10 by trading volume on X, Sui's vibrant DeFi environment provides a vital foundation for USDC's continued expansion.
"Circle is a blockchain-based blockchain that combines native USDC and CCTP," said Nikhil Chandhok, chief product officer at Ethereum.
We are excited to support Sui's developer and user community with the release of Circle
's open platform and decentralized protocol will allow more businesses to
"Sui and its entire diverse ecosystem will be able to provide blockchain-based utilities that contribute to efficient payment experiences."
Sui is working with various ecosystem apps to gradually shift liquidity from bridged USDC to native USDC through Wormh
The OLE Portal Bridge will continue to operate as is. Prior to the launch of native USDC, it will be displayed on the block explorer (blockchain search and inquiry function).
We plan to change the name of the Ethereum-bridged USDC in the description to "wUSDC" and recommend that various ecosystem apps reflect the name change in their UIs and documentation.
Adeniyi, co-founder and chief product officer of Mistin Labs, the developer of Sui Network,
Abiodun said: "The launch of USDC as Sui's native asset marks a milestone in the mature development of the Sui ecosystem.
"Native USDC, combined with USDC's advanced technology, is another important milestone in our journey to become the Sui community's most trusted digital currency in the world," he said.
"The ability to hassle-free use of USDC, one of the world's largest cryptocurrencies, further strengthens Sui's position as a leader in the blockchain industry."
Just a little over a year after the launch of its mainnet, the cryptocurrency is trading at USDC, one of the most stable assets in the cryptocurrency industry.
The realization of the integration of various native stable coins shows that the Sui ecosystem is rapidly evolving as an industry leader.
As a versatile, secure and scalable platform, Sui's progress in creating the future of intelligent assets is gaining momentum.