Integration to enhance DeFi use cases on Aptos, expand interoperability, and streamline global payment solutions for merchants.
Aptos Foundation today announced the upcoming integration of Circle’s native USDC and Cross-Chain Transfer Protocol (CCTP) on the Aptos Network, as well as Stripe adding support for Aptos in its crypto products. These integrations make Aptos the home for interoperable DeFi and the fastest, cheapest, and most reliable enterprise-grade blockchain, further expanding its global financial ecosystem.
The integration of Aptos into Stripe’s crypto onramp and payouts products, paired with native USDC, will provide reliable fiat on and off-ramps for the Aptos network, streamline merchant pay-ins and payouts, and offer a seamless connection between traditional finance and blockchain technology.
Today, USDC is the largest regulated dollar-backed stablecoin with over $37B in circulation. With more than $160M in circulation on Aptos, bridged USDC is the most prevalent stablecoin available on the network. With this integration, native USDC will be issued through the regulated entities of Circle directly on the Aptos network and CCTP will enable developers to design cross-chain experiences by connecting their Aptos apps to the network of supported blockchains.
Bridge providers such as Stargate, built on LayerZero, will provide a smooth transition from the existing bridged USDC on Aptos to native USDC over time. There are no immediate changes to the AptosBridge built on LayerZero, and it will continue to operate as normal.
Additionally, ahead of the native launch of USDC, bridged USDC from the AptosBridge will be renamed to “lzUSDC” on block explorers. There will be outreach to ecosystem apps to encourage them to make the same change in their app UI and documentation.
The launch of CCTP will bring new levels of interoperability to DeFi on Aptos, enabling secure and efficient native USDC transfers. With the addition of Aptos, CCTP will support nine blockchains – including Arbitrum, Base, Ethereum, and Solana —and 72 routes with 1:1 capital efficiency. This move will allow for seamless cross-chain onboarding, swaps, purchases, treasury rebalancing, and more – all while maintaining an accessible and intuitive user experience.
With the addition of Aptos to Stripe’s crypto products, users will be able to seamlessly convert fiat currencies into USDC, directly through Aptos-enabled wallets. This integration will enable the use of USDC for Stripe’s global network of businesses. The combination of Stripe’s payment tools and Aptos’ scalable network unlocks new opportunities for global merchants and payment providers to process transactions faster, more securely, and at lower costs.
About Aptos Foundation
Aptos Foundation is dedicated to supporting the development of the Aptos protocol, decentralized network and ecosystem and driving engagement with the Aptos ecosystem. By unlocking a blockchain with seamless usability, Aptos Foundation aims to bring the benefits of decentralization to the masses.
About Aptos Network
Aptos is a next-generation Layer 1 blockchain. Aptos’ breakthrough technology and programming language, Move, are designed to evolve, improve performance and strengthen user safeguards. Please visit https://www.aptosfoundation.org for more information on the Aptos blockchain.
About Circle
Circle is a global financial technology firm that enables businesses of all sizes to harness the power of digital currencies and public blockchains for payments, commerce and financial applications worldwide. Through its regulated entities, Circle is the issuer of USDC and EURC – highly liquid, interoperable, and trusted money protocols on the internet. Circle’s open and programmable platform and APIs make it easy for organizations to run their internet-scale business, whether it is making international payments, building globally-accessible Web3 apps or managing their internal treasury. Users can learn more at https://circle.com.
About Stripe
Stripe is a financial infrastructure platform for businesses. Millions of companies—from the world’s largest enterprises to the most ambitious startups—use Stripe to accept payments, grow their revenue, and accelerate new business opportunities. Headquartered in San Francisco and Dublin, the company aims to increase the GDP of the internet.
ContactCommunications LeadHannah NoyesAptos Labshannah@aptoslabs.com
This article was originally published on Chainwire
Source: Cryptocurrency - investing.com
