Circle Deploys Native USDC and EURC on Plasma Chain, Launches CCTP

August 29 news, according to The Defiant, stablecoin issuer Circle has natively deployed USDC and EURC on the Plasma chain and launched the Cross-Chain Transfer Protocol (CCTP) and Bridge Kit, providing native USD and EUR stablecoins and cross-chain transfer functionality for this stablecoin-focused Layer 1. CCTP enables cross-chain transfers by burning USDC on the source chain, obtaining a Circle-signed attestation, and minting an equivalent amount of USDC on the destination chain, without creating wrapped USDC or relying on liquidity pools. Circle stated that eligible institutions can access fiat on/off ramps through Plasma, and developers can integrate USDC and EURC into applications. USDC now natively supports 37 blockchains, EURC natively supports 8 chains, and CCTP covers 28 chains.