Circle launched the improved version of its cross -transfer protocol (CCTP V2) on Tuesday, a tool that facilitates USDC transfers through blockchains. The company said that the upgrade considerably reduced transaction times a few seconds from the 13 to 19 typical minutes on Ethereum and its layer 2 networks.
CCTP, introduced in 2023, is designed to move digital assets through blockchains without counting on traditional liquidity pools and third -party liquidity suppliers. Since its inception, the protocol has managed more than $ 36 billion in volume of transactions, according to Circle.
The improved version offers a rapid transfer function, which allows almost moments between the supported networks, according to the press release. The standard transfer, which operates at the indigenous regulation speed of a blockchain, remains available.
Another new feature, called hooks, allows developers to program automatic actions such as asset exchanges or cash management on the reception blockchain. This reduces manual treatment and improves the effectiveness of decentralized financing applications (DEFI).
The improved version has been put online on Ethereum, Avalanche and Base, with more blockchain integrations later this year, said the firm. Several platforms, including CCTP.Money, Interport, Li.fi, Mayan, Socket and Wormhole, have already integrated the protocol.
Circle is the transmitter of the USDC, the second largest stablecoin in the cryptography market with a circulating offer of $ 58 billion. Attached to the US dollar, the USDC is popular in cryptographic trading, DEFI and increasingly used as payments, sends and real asset regulations among traditional financing companies.
