KoinlyticsCCTP (Cross-Chain Transfer Protocol) is Circle's native USDC bridging mechanism. Instead of locking USDC on one chain and minting a wrapped version on another, CCTP burns and mints canonical USDC across supported chains. This eliminates wrapped USDC entirely.
How it works
- User burns USDC on source chain via Circle's Message Transmitter contract.
- Circle's Attestation Service (off-chain) watches for the burn.
- After finality on source, Attestation Service signs an attestation.
- User (or a relayer) submits the attestation to destination chain.
- Message Transmitter on destination mints fresh USDC to the recipient.
Why this beat lock-and-mint
- No locked pot on source to attack.
- USDC on every chain is real USDC, redeemable at Circle 1:1.
- No wrapped USDC.e (as previously existed on Avalanche, Polygon).
Supported chains
Ethereum, Base, Arbitrum, Optimism, Polygon PoS, Avalanche, Solana, Noble (Cosmos). More expected.
Speed and cost
- Attestation typically ~15 min (waiting for source chain finality).
- Fast Transfers via relayers can front funds in seconds for a small fee.
- User pays only source burn gas + destination mint gas. No spread.
Where it doesn't work
- Not all chains support CCTP. Long-tail L2s need traditional bridges.
- Redemption windows: if you burn but don't submit attestation, you lose the USDC (in practice, always relayed).
What Circle earns
Currently, nothing directly. CCTP is free. Circle benefits by owning the canonical rail and reducing wrapped USDC that competes with their brand.