CCTP protocol
Overview
CCTP (Cross-Chain Transfer Protocol) is a permissionless on-chain utility developed by Circle that enables the native transfer of USDC between different blockchain networks. It uses a burn-and-mint mechanism to maintain a 1:1 backing across chains, eliminating the need for wrapped assets or liquidity pools.
Within the DeFi Intel graph, CCTP connects to 2 tracked entities, most strongly to Circle, Across Protocol.
Relations
Top connections in the DeFi Intel knowledge graph (confidence-weighted, 2 of 2 total).
| Relation | Connected entity | Confidence |
|---|---|---|
issued_by | Circle | 97% |
integrates | Across Protocol | 93% |
Frequently asked questions
What is CCTP?
CCTP (Cross-Chain Transfer Protocol) is a protocol by Circle that allows users to send USDC from one blockchain to another by burning the tokens on the source chain and minting an equivalent amount on the destination chain.
How does CCTP ensure that USDC is not double-spent across chains?
CCTP uses a burn-and-mint model: USDC is burned (destroyed) on the source chain, and a cross-chain message is sent via Circle's attestation service to authorize minting of the same amount on the destination chain, ensuring the total supply remains constant.
Which blockchains currently support CCTP?
CCTP supports several major blockchains including Ethereum, Avalanche, Arbitrum, Optimism, Polygon PoS, and others, with Circle continuously expanding the list.
What is CCTP connected to?
In the DeFi Intel knowledge graph, CCTP is linked to 2 other tracked entities, most strongly to Circle, Across Protocol.
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