USDC and Circle CCTP will go live on Morph, offering native USD settlement and standardized cross-chain transfers

Odaily Planet Daily reports that USDC and Circle Cross-Chain Transfer Protocol (CCTP) will launch on Morph. USDC will be issued on Morph by Circle's regulated affiliated entity, serving as a USD-denominated settlement asset within the network and providing a more consistent USD settlement foundation for payment applications.

CCTP will support USDC transfers between supported blockchains through burn-and-mint methods. Tokens are burned on the source chain and re-minted on the target chain, maintaining a 1:1 supply ratio and standardized settlement behavior; applications can choose between Standard Transfer or Fast Transfer modes as needed.

Morph states that USDC and CCTP will support USD settlements and cross-chain fund transfers in scenarios such as crypto cards, cross-border remittances, payment gateways, DeFi, and trading. They will also work with Morph's $150 million Payment Accelerator program to advance its position as a payment settlement layer.