Last Updated on November 15, 2023 by Bitfinsider
As a result of a collaboration between stablecoin issuer Circle, the company of the protocol dYdX Chain, and Noble, a Cosmos application-specific blockchain. The capability will be available via Circle’s Cross Chain Transfer Protocol, which will go live on Noble’s mainnet shortly.
The change allows Noble users “to send their USDC, the collateral contemplated by dYdX Chain, from other chains directly to dYdX Chain in an easy, simple, and secure manner,” dYdX noted in a Tuesday post. “USDC on Noble and the imminent launch of CCTP is poised to unlock huge UX benefits for dYdX’s v4 software (dYdX Chain).”
Users may transmit USDC to supported blockchains via CCTP’s native burn and mint procedure, eliminating the requirement for custodial bridging. Circle’s CCTP became live on Noble’s testnet on November 3 and will be available on the network’s mainnet on November 28.
“A major tenet of DeFi is increased accessibility for all users,” said Nathan Cha, marketing lead at dYdX. “We at dYdX Trading are thrilled to see our open source software expanding its capabilities by partnering with trusted partners like Circle and Noble to allow easy access to USDC.”
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