Circle has announced the upcoming launch of its USDC stablecoin and Cross-Chain Transfer Protocol (CCTP) on the Aptos blockchain. This move marks a new phase in Aptos’ evolution as a scalable layer-1 blockchain designed for diverse Web3 applications.
Concurrently, Stripe will integrate Aptos into its crypto payment products, enabling businesses and individuals to convert fiat currencies into USDC and vice versa. This development will expand the accessibility of stablecoin payments across global markets.
Circle USDC and CCTP Set To Streamline Transactions on Aptos
According to a recent blog post, Circle will issue USDC natively on Aptos, eliminating the need for bridged versions. Native issuance ensures better efficiency and security for the blockchain’s growing DeFi ecosystem. Developers will also gain access to CCTP, which allows cross-chain transfers between Aptos and other blockchains, including Ethereum, Solana, Arbitrum, and Base.
Bridged USDC currently dominates Aptos’ stablecoin usage, with $160 million in circulation. However, the transition to native USDC will phase out bridged versions over time. To manage this shift, the bridged version will be renamed “lzUSDC,” and liquidity will gradually be migrated to the native USDC. Existing bridge providers, such as LayerZero, will facilitate the transition smoothly, ensuring continued operations for users and applications.
Reacting to the update, the Co-founder and CEO of Circle, Jeremy Allaire, added,
“USDC + CCTP + Aptos = high-performance, very powerful programmable money infrastructure. Excited for the upcoming launch!”
Stripe Integration Enhances Fiat-to-Stablecoin Transactions
Stripe’s integration with Aptos will enable users to convert fiat currencies like USD directly into USDC and vice versa through Aptos-enabled wallets. This feature will benefit global merchants by allowing them to process transactions more securely, quickly, and cheaply.
With the addition of Aptos to Stripe’s crypto products, businesses can leverage stablecoin payments to expand their operations globally. This partnership bridges traditional finance with blockchain technology. Simultaneously, it offers a streamlined solution for cross-border payments and enables widespread adoption of Circle’s stablecoin within the Stripe ecosystem.
In addition, beyond its initiatives with Aptos, Circle is preparing for an expansion into Hong Kong. The company aims to establish a local presence by applying for a license under the region’s upcoming stablecoin regulations. Hong Kong’s pro-crypto environment, including same-day USD settlements, positions it as a strategic hub for operations in Asia.
As part of its broader growth strategy, the stablecoin issuer is also exploring other Asia-Pacific markets, including Australia. These initiatives come as the company prepares for its highly anticipated IPO.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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