The Circle cross-chain transfer protocol will go live on Arbitrum on June 27

ChainCatcher news, USDC stablecoin issuer Circle announced that the Cross-Chain Transfer Protocol (CCTP) will go live on the Arbitrum network on June 27.

It is reported that CCTP is a permissionless on-chain tool launched by Circle to facilitate the transfer of USDC between different blockchains. Circle does not require liquidity on the target chain, but instead burns USDC on the source chain and mints native USDC on the target chain, allowing USDC to flow natively across blockchains. (source link)