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USDC and Circle CCTP are now live on Morph, supporting standardized cross-chain USD settlement.
Deep Tide TechFlow News, March 12 — USDC and Circle’s cross-chain transfer protocol CCTP (Cross-Chain Transfer Protocol) are now live on Morph. USDC, as the dollar-denominated settlement asset within the Morph network, is now issued on Morph by Circle’s regulated affiliated institution.
CCTP supports 1:1 cross-chain transfers of USDC between Morph and other supported blockchains, meaning it is burned on the source chain and minted natively on the target chain to maintain supply integrity. Developers can choose between standard transfer and fast transfer modes based on security and timeliness needs.
Morph states that USDC and CCTP will support dollar settlement needs in scenarios such as cross-border remittances, crypto payment cards, payment gateways, DeFi, and trading, further promoting the development of on-chain payment infrastructure.