Chainlink, which claims to be the “industry-standard” decentralized computing platform, announced today that the Chainlink Cross-Chain Interoperability Protocol (CCIP)—the industry standard for secure cross-chain interoperability— has integrated Circle’s Cross-Chain Transfer Protocol (CCTP) in order “to provide users with a secure and reliable way to transfer USDC across chains.”
Developers can now start building secure cross-chain applications “using Chainlink CCIP to utilize USDC across the multi-chain ecosystem.”
Their integration of CCTP opens up new use cases “with USDC, such as seamless and secure cross-chain transfers, payments and other DeFi interactions for protocols building with Chainlink CCIP.”
Sergey Nazarov, Co-Founder, Chainlink, said:
“We’re excited to support the adoption of stablecoins across a variety of cross-chain use cases. I’m pleased to see that the defense-in-depth security infrastructure of CCIP, with multiple layers of decentralization, is something highly valued by developers building with USDC. It’s also exciting to see CCIP’s advanced risk management features have such a value-added role to play in how USDC can be sent in a way that complies with various key user requirements.”—
Chainlink says that it “has a proven track record of maintaining the highest standard of security and reliability in the blockchain industry. Furthermore, CCIP is backed by the Risk Management Network—a separate, independent network that continually monitors and verifies cross-chain operations for anomalous activity.”
Chainlink CCIP’s level-5 security infrastructure is particularly important “given historical industry exploits and the billions in user funds lost due to insecure and unreliable cross-chain infrastructure.”
CCTP is a permissionless on-chain utility that “enables developers to provide users with a secure and capital-efficient way to transfer USDC across chains.”
Chainlink’s expansive blockchain developer ecosystem can now “leverage CCIP and CCTP to build applications that support the seamless transfer of USDC across chains.”
As covered, Chainlink states that it is “the industry-standard decentralized computing platform powering the verifiable web. Chainlink has enabled over $9 trillion in transaction value by providing financial institutions, startups, and developers worldwide with access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain. Chainlink powers verifiable applications and high-integrity markets for banking, DeFi, global trade, gaming, and other major sectors.”