Router Protocol’s Circle integration makes USDC interoperable
- Router Protocol integrates Circle’s Cross-Chain Transfer Protocol to bring interoperability to USD Coin.
- dApps developers will have seamless access across multiple blockchains without need to pre-fund USDC.
- Router has the testnet live on Ethereum and Avalanche, with more including Solana planned for 2023.
Router Protocol, a cross-chain infrastructure platform designed to allow communication between blockchains, has integrated Circle’s Cross-Chain Transfer Protocol to make the stablecoin USD Coin (USDC) interoperable. The development comes about two months since Circle unveiled its Cross-Chain Transfer Protocol to allow for its stablecoin to be used natively across blockchains.
Announced via a press release on Monday, 12 December 2022, the testnet integration is a major development for Router as it brings more functionality to the blockchain layer’s suite of products.
Specifically, the partnership with Circle is set to allow for further scalability across the network, ensuring developers have easy access to multiple blockchains without having to pre-fund USDC. It’s a solution that brings seamless interoperability and one with a lot of benefit to users – particularly where there is increased capacity to scale volume and liquidity across multiple blockchains.
Router Protocol CEO and co-founder Ramani Ramachandran said in a statement that the platform’s products make it easy for decentralised applications, or dApps, to go multi-chain “with just a few clicks.
USDC integration brings near infinite liquidity to usersCopy link to section
According to Ramachandran, the cross-chain transfer protocol for USDC significantly improves on Router’s solution, taking it to the next level by making it possible for any app to access near-infinite liquidity.
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Router users do not have to maintain USDC liquidity virtually on every chain, a factor that added to security vulnerability as well as impacted liquidity. But as the Cross-Chain Transfer Protocol allows for native USDC transfers, the integration adds to capital efficiency and helps streamline user experience.
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Per the Router team, the USDC cross-chain transfer feature is now live on testnet for two leading chains – Ethereum and Avalanche. The protocol plans to expand the solution to more chains in 2023, including to Solana.
As previously reported, Router Protocol already supports a cross-chain bridge feature dubbed ‘Voyager’ that does not just seek to advance blockchain interoperability, but also enhance the future of a chain-agnostic Wed3.