The Good Tech Companies - USDC And CCTP To Launch On Aptos, With Stripe Adding Aptos Support In Crypto Products

Episode Date: November 21, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/usdc-and-cctp-to-launch-on-aptos-with-stripe-adding-aptos-support-in-crypto-products. Integration to enhance DeFi use cases on Aptos, expand interoperability, and streamline global payment solutions for merchants. Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #web3, #aptos, #chainwire, #press-release, #aptos-blockchain, #crypto-exchange, #blockchain-development, #good-company, and more. This story was written by: @chainwire. Learn more about this writer by checking @chainwire's about page, and for more stories, please visit hackernoon.com.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. USDC and CCTP to launch on Aptos, with Stripe adding Aptos support in crypto products, by Chainwire. Palo Alto, California, November 21, 2024, Chainwire, Aptos Foundation today announced the upcoming integration OFCircle'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 on-ramp 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 $37 billion in circulation. With more than $160 million 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 CCTVCTP 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 Layer 0, will provide a smooth transition

from the existing bridged USDC on Aptos to native USDC over time. There are no immediate changes to the Aptos bridge built on layer 0, and it will continue to operate as normal. Additionally, ahead of the native launch of USDC, bridged USDC from the Aptos bridge 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-to-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. Greater than, adding support for the Aptos blockchain inside

our crypto products broadens greater than consumer and merchant access to more efficient global fund flows with greater than stablecoins. Whether it be a retailer accepting payments from around the greater than world, or a platform paying creators no matter where they are, said John Egan, head of crypto at Stripe. This collaboration brings Stripe's global greater-than network together with the power of the Aptos blockchain, opening new avenues greater-than for both merchants and consumers to access efficient, stablecoin-based greater-than payments. Greater-than, the DeFi ecosystem on Aptos has grown to five times its original size in the greater-than past year alone, and it's clear why, said Nikhil Chandhok, chief product officer at Circle. Aptos has emerged as a highly efficient way to move

money greater than across the globe. The arrival of native USDC and CCTP will only enhance this, greater than and further the vision we share with the Aptos Foundation team of a future greater than where secure digital dollars create a more accessible economy for greater than everyone. USDC and CCTP are the gold standards in DeFi, and Stripe is among greater than the most trusted names in financial infrastructure, said Bashar Lazar, head greater than of grants and ecosystem at Aptos Foundation. Greater than, Circle and Stripe's integration of Aptos moves the needle in creating a more greater than accessible, secure, and decentralized future of finance. Circle and Stripe's integration of Aptos moves the needle in creating a more greater-than-accessible,

secure, and decentralized future of finance. We're all looking greater-than-forward to this integration and are eager to see what the incredible builders greater-than-in-the-Aptos ecosystem make possible with this powerful new technology in greater-than-their-toolkit. Aptos makes the globally connected economy accessible to greater-than-everyone by simplifying the movement of economic value, said Mo Shaikh, CEO greater than of Aptos Labs, which provided technical expertise for the integrations. I'm greater than looking forward to seeing Aptos becoming a unifying force in the global greater than economy, providing infrastructure that enhances payment efficiency while greater than bringing the peer-to-peer money movement to life for its ecosystem and greater than builders. For more information about Aptos Foundation and DeFi on

Aptos, visit, https colon slash slash Aptos Foundation. Org, Ecosystem, Projects, DeFi. 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 colon slash slash 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 colon slash slash 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. Contact communications lead Hanna Noyes Aptos Labshana at aptoslabs.com. Tip This story was distributed as a release by Chainwire under HackerNoon's business blogging program. Learn more about the program here. And thank you for listening to this HackerNoon story, read by Artificial Intelligence. Visit HackerNoon.com to read, write, learn and publish.