Circle Expands CCTP on Arc with Native EURC and cirBTC Transfers
Circle has expanded its Cross-Chain Transfer Protocol (CCTP) on Arc to include native transfers of EURC and cirBTC. This move allows for a wider range of assets to be transferred across different blockchain networks, enhancing interoperability.
The CCTP utilizes the burn-and-mint process, where tokens are burned on the originating chain and then minted natively on the target chain. This process is currently available for EURC on five networks: Arc, Avalanche, Base, Ethereum, and World Chain, while cirBTC has connections with Arc and Ethereum.
USDC remains the most widely adopted asset on Arc's interoperability stack, but Circle is working to expand support for other assets. The Gateway service will initially be USDC-only, although EURC and cirBTC support is planned for balance unification at a later date.