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4d ago

Circle to Enable Native USDC on Injective Via CCTP

The move would replace bridged tokens with burn‑and‑mint transfers through CCTP for faster, cheaper settlement on Injective.

Injective expands blockchain payments stack with usdc and cross chain protocol

Overview

  • Injective said it will support native USDC issuance through a Circle CCTP integration, with development underway and no launch date disclosed.
  • CCTP’s design burns USDC on the source chain and mints it on the destination, removing reliance on wrapped tokens and third‑party bridges.
  • On Injective, native USDC is positioned as core collateral for spot and derivatives markets and as a pathway to institutional on/offramps via Circle Mint.
  • The network highlights sub‑second finality, low fees, and EVM/WASM support to boost cross‑chain performance and lower settlement costs.
  • Market context: USDC supply is nearing $80 billion and about 64% of adjusted stablecoin transfer volume, while Circle’s shares rose 2.83% to $129.39 following the reports.