USDC and Circle CCTP to Launch on Morph, Offering Native Dollar Settlement and Standardized Cross-Chain Transfers

Odaily News USDC and the Circle Cross-Chain Transfer Protocol (CCTP) are set to launch on Morph. USDC will be issued on Morph by Circle's regulated affiliates to serve as the network's dollar-denominated settlement asset, providing a more consistent foundation for dollar settlement in payment applications.

CCTP will support the transfer of USDC between supported blockchains via a burn-and-mint mechanism. USDC is burned on the source chain and natively minted on the destination chain, thereby maintaining a 1:1 supply consistency and standardized settlement behavior. Applications can choose between Standard Transfer or Fast Transfer modes based on their needs.

Morph stated that USDC and CCTP will support dollar settlement and cross-chain fund orchestration in scenarios such as crypto cards, cross-border remittances, payment gateways, as well as DeFi and trading. This will work in conjunction with Morph's $150 million Payment Accelerator program to advance its positioning as a payment settlement layer.