Injective to support native USDC and cross-chain transfers via Circle

Injective plans to integrate Circle's Cross-Chain Transfer Protocol (CCTP) to enable the native issuance of USD Coin (USDC) on its Layer 1 blockchain, eliminating the need for bridged or wrapped versions. This integration will also allow users to transfer USDC directly between Injective and other supported blockchains without relying on third-party bridges, as CCTP works by burning USDC on the origin chain and minting it on the destination chain. This move supports Injective's focus on trading and financial applications, where stablecoins are crucial for collateral and liquidity. The development coincides with USDC's continued growth, nearing an $80 billion supply and reportedly overtaking Tether's USDT in adjusted year-to-date transfer volume, according to Mizuho research.

(Source：The Block)