Carbon Credit(CCT)

Decentralized exchange dYdX will be the a user of CCTP, as the project expands beyond Arbitrum, Base, Ethereum and Optimism.

Users can now transfer native USDC from the Arbitrum market to different chains via Circle’s cross-chain transfer protocol (CCTP), without needing to bridge back to Ethereum.

Prominent stablecoin issuer Circle announces the launch of its Web3 Programmable Wallets public beta version for developers on three blockchains. The First Product of Circle’s Web3 Services Line On Tuesday, August 8, 2023, global fintech company Circle, known for its USDC stablecoin, announced the launch of Programmable Wallets, the first product of the platform’s Web3 Services product line. The public beta version of Programmable Wallets is now available for businesses, developers, and builders. The product currently supports Ethereum, Polygon, and Avalanche networks, with other chains coming soon. Programmable Wallets allows developers to seamlessly integrate secure crypto wallets into any application, thus expediting the adoption of Web3 and blockchain technologies. “​​Programmable Wallets bridge the gap between today’s internet and blockchain networks by abstracting complexities such as private key security, blockchain node operations, transaction management, interoperability across blockchains, and many others to enable developers to iterate on applications faster,” reads the statement on the Circle’s website. One of Programmable Wallets’ key features is that it gives developers the freedom to customize the crypto wallet experience to best fit their use case. This helps greatly increase customer satisfaction because different types of apps (DeFi, games, e-commerce, etc.) will use their crypto wallet in different ways. Programmable Wallets offers a self-service, end-to-end solution, enabling developers to register, build, and implement their first wallets and transactions within minutes. The developer console provides all the necessary tools for debugging, launching, and scaling Web3 applications. According to the company’s press release, these are the core features of Programmable Wallets: User-controlled wallets: gives end-users full control of their assets; Developer-controlled wallets: allows developers manage assets on behalf of users; REST APIs manage both user-controlled and developer-controlled wallets; iOS and Android SDKs speed up development processes and facilitate wallet UI customization; Webhooks keep users updated on their incoming or outgoing transactions; Wallet operations dashboard enables developers to monitor transactions; Multiparty computation (MPC) is a built-in cryptographic security configuration; Blockchains Agnostic allows to build a wallet once and use it across different blockchains; Pay-as-you-grow provides a rebate on USDC usage, starting at $0.05/Monthly Active Wallet. Other features such as Gas Abstraction and Smart Contract Wallets should be rolled out shortly. Circle Expands the Range of Its Web3 Solutions Earlier this year, Circle launched a Cross-Chain Transfer Protocol (CCTP) to allow permissionless transfers of USDC natively across supported blockchains. A couple of months later, the platform announced the operationalization of its CCTP on Arbitrum, a Layer 2 scaling solution for the Ethereum network, with the aim to make the USDC transfers faster and more secure. “With USDC, CCTP, Programmable Wallets, and our broader Web3 Services offering, our goal is to make it easy for developers to rapidly build, deploy, and scale blockchain-powered apps for a variety of use cases, regardless of the blockchain network they choose to build on,” the Senior Director of Product Management at Circle, Gagan Mac, wrote in the statement. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Prominent stablecoin issuer Circle announces the launch of its Web3 Programmable Wallets public beta version for developers on three blockchains. The First Product of Circle’s Web3 Services Line On Tuesday, August 8, 2023, global fintech company Circle, known for its USDC stablecoin, announced the launch of Programmable Wallets, the first product of the platform’s Web3 Services product line. The public beta version of Programmable Wallets is now available for businesses, developers, and builders. The product currently supports Ethereum, Polygon, and Avalanche networks, with other chains coming soon. Programmable Wallets allows developers to seamlessly integrate secure crypto wallets into any application, thus expediting the adoption of Web3 and blockchain technologies. “​​Programmable Wallets bridge the gap between today’s internet and blockchain networks by abstracting complexities such as private key security, blockchain node operations, transaction management, interoperability across blockchains, and many others to enable developers to iterate on applications faster,” reads the statement on the Circle’s website. One of Programmable Wallets’ key features is that it gives developers the freedom to customize the crypto wallet experience to best fit their use case. This helps greatly increase customer satisfaction because different types of apps (DeFi, games, e-commerce, etc.) will use their crypto wallet in different ways. Programmable Wallets offers a self-service, end-to-end solution, enabling developers to register, build, and implement their first wallets and transactions within minutes. The developer console provides all the necessary tools for debugging, launching, and scaling Web3 applications. According to the company’s press release, these are the core features of Programmable Wallets: User-controlled wallets: gives end-users full control of their assets; Developer-controlled wallets: allows developers manage assets on behalf of users; REST APIs manage both user-controlled and developer-controlled wallets; iOS and Android SDKs speed up development processes and facilitate wallet UI customization; Webhooks keep users updated on their incoming or outgoing transactions; Wallet operations dashboard enables developers to monitor transactions; Multiparty computation (MPC) is a built-in cryptographic security configuration; Blockchains Agnostic allows to build a wallet once and use it across different blockchains; Pay-as-you-grow provides a rebate on USDC usage, starting at $0.05/Monthly Active Wallet. Other features such as Gas Abstraction and Smart Contract Wallets should be rolled out shortly. Circle Expands the Range of Its Web3 Solutions Earlier this year, Circle launched a Cross-Chain Transfer Protocol (CCTP) to allow permissionless transfers of USDC natively across supported blockchains. A couple of months later, the platform announced the operationalization of its CCTP on Arbitrum, a Layer 2 scaling solution for the Ethereum network, with the aim to make the USDC transfers faster and more secure. “With USDC, CCTP, Programmable Wallets, and our broader Web3 Services offering, our goal is to make it easy for developers to rapidly build, deploy, and scale blockchain-powered apps for a variety of use cases, regardless of the blockchain network they choose to build on,” the Senior Director of Product Management at Circle, Gagan Mac, wrote in the statement. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Bitcoin’s moment in the sun is affirming the steadfast crypto supporters, especially Michael Saylor’s company MicroStrategy, which has continued to fill up its BTC reserves. Let’s find out more. Bitcoin Michael Saylor’s Microstrategy has bought a further 12,333 bitcoins for around $347 million, bringing its total to 152,333 bitcoins. Major asset manager Fidelity is preparing to submit its own application for a spot bitcoin exchange-traded fund (ETF), joining other big money asset managers such as BlackRock. With Bitcoin gathering strength above $30,000, another strong move to the upside could be on the way. Ethereum HSBC Hong Kong, a subsidiary of one of the world's largest banking and financial services organizations, has recently added support for Bitcoin and Ethereum futures ETFs. Mastercard is planning to launch a blockchain-based marketplace for financial applications, propelling the evolution of payment solutions beyond traditional parameters. Altcoins As bitcoin makes its break higher, the spark this has given to the whole crypto sector has set the altcoins alight. Technology Worldcoin, a cryptocurrency project led by Sam Altman, co-founder of the AI bot ChatGPT, has partnered with digital identity provider Auth0 to manage World ID logins effectively. Decentralized exchange dYdX has announced plans to launch the public testnet of its Cosmos-based blockchain on the 5th of July, 2023. Circle, the issuer of the USD Coin (USDC) stablecoin, has announced the operationalization of its Cross-Chain Transfer Protocol (CCTP) on Arbitrum, a Layer 2 scaling solution for the Ethereum network. Business Prominent crypto wallet service provider, Ledger, has announced its latest venture into the world of institutional trading technology. Tether has recently inked a Memorandum of Understanding (MOU) with the Government of Georgia, which will position Georgia as a central nucleus for blockchain and peer-to-peer technology. Affected Voyager customers can now open a Gemini account until July 23, 2023, and withdraw their cryptocurrencies directly in accordance with the distribution process claims. The new FTX management announced the recovery of $7 billion in liquid assets, calling the development “substantial progress” in asset recovery. In a recently leaked internal announcement, Robinhood Markets plans to lay off approximately 150 full-time employees, equating to about 7% of its total workforce. Nevada’s Financial Institutions Division has placed crypto firm Prime into receivership, having taken control of the company, and has frozen its businesses and operations. Binance, the world’s largest cryptocurrency exchange, has reversed its decision to delist certain privacy coins in Europe. Solana’s Cardinal Labs has announced its decision to wind down operations and shut down, citing economic conditions. Regulations Just as Bitcoin was looking as though it was going to break the critical $31,000 price level, the SEC threw a wrench into the works by rejecting all the latest ETF filings. Binance’s crypto custody license application has reportedly been rejected by the German BaFin regulator. Cryptocurrency platform KuCoin has announced that it will be introducing mandatory KYC rules as it looks to embrace regulations. Coinbase has filed a motion to dismiss the legal case brought against it by the SEC, citing a lack of jurisdiction and violation of due process. The Blockchain Association, a prominent lobbyist group for the cryptocurrency industry in the United States, has called on SEC Chair Gary Gensler to recuse himself from enforcing rules on the crypto space. Crypto exchange Kraken has been ordered by a federal court to turn over user account information and transaction history to the IRS so that it can check if the exchange’s users underreported their taxes. The House of Lords passed the Financial Services and Markets Bill, which aims to regulate Bitcoin and crypto in the UK. The Law Commission of England and Wales has published recommendations for the reform and development of the law relating to digital assets to secure the UK’s position as a global crypto hub. Swiss authorities have reportedly seized over $26 million worth of Bitcoin and other digital assets connected to Terraform Labs and its former executives. NFT Former first lady of the United States Melania Trump has launched a new NFT collection to celebrate the country’s Independence Day, inspired by the nation’s iconic landmarks. The much-awaited Azuki Elementals NFT collection has sold out in a record 15 minutes and has raked in a whopping $38 million. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Circle, the issuer of the USD Coin (USDC) stablecoin, has announced the operationalization of its Cross-Chain Transfer Protocol (CCTP) on Arbitrum, a Layer 2 scaling solution for the Ethereum network. This integration enables faster and more secure transfers of USDC across several blockchain networks, including Ethereum, Avalanche, and now Arbitrum. Enhanced Functionality with CCTP CCTP facilitates the movement of USDC across different blockchain networks by employing a burn-and-mint mechanism. Native USDC tokens on the original chain are burnt, and an equivalent amount is minted on the receiving chain. This mechanism enhances the efficiency and security of USDC transfers. Arbitrum is the third chain to support CCTP, and the protocol is live on the official Arbitrum Bridge. The addition of CCTP to Arbitrum follows Circle's recent announcement of a native version of its stablecoin on the Arbitrum network. Integration with Other Protocols Several other bridge projects and interoperability-centric protocols, such as Celer Network, Li.Fi, Wormhole, O3 Labs, Wanchain, and Router Protocol, have incorporated CCTP into their systems. These integrations enable USDC transfers via their respective platforms. Notably, the integration of CCTP with Arbitrum is expected to replace the traditional "lock-and-mint" bridging process typically used for transferring tokens between chains. This conventional mechanism has been associated with security issues in the past. Using CCTP instead can expedite bridge transfers, improving efficiency and security. The Growth of USDC USDC is currently the second-largest centralized stablecoin in the market after USD Tether, boasting a supply close to $28 billion. Its increasing adoption and the integration with Arbitrum underline the significant role it plays in the crypto landscape. Circle expressed its enthusiasm for the CCTP integration with Arbitrum in a series of tweets. The company highlighted that the integration simplified the process of moving USDC natively to Arbitrum, enabling direct transfers to and from Ethereum and Avalanche. As a many-to-many messaging protocol, CCTP can now burn and mint USDC through six unique routes between its three supported chains. Each new chain added automatically connects to all existing CCTP chains. Users receive native USDC with CCTP, eliminating the need for lock-and-mint bridging. This development brings added security and capital efficiency to the process of sending USDC across supported chains. The protocol also allows for a swift return of USDC to Ethereum, bypassing withdrawal delays when moving liquidity from Layer 2 solutions to Layer 1. Circle's CCTP offers developers the opportunity to build applications offering native cross-chain deposits, swaps, purchases, and more. As such, the integration promises significant improvements to the cross-chain capabilities of the ecosystem. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Circle has announced that it will be launching the USDC stablecoin natively on Arbitrum on the 8th of June, 2023. According to the company, the move will replace the bridged version of the stablecoin from Ethereum, which is currently in circulation. Native To Arbitrum With the announcement by Circle, USDC will be native to Arbitrum and will be the official version of the stablecoin recognized across the Arbitrum ecosystem. It will also eventually replace the bridged version of the stablecoin from Ethereum. In its statement, Circle stated that Arbitrum would rename the Ethereum-bridged version of the USDC stablecoin as USDC.e ahead of the launch of the native USDC on the 8th of June, 2023. The company added that it would also conduct an outreach to other apps in the ecosystem to make the same changes in their documentation and application UI. “USDC issued by Circle will be native to Arbitrum and will be considered the official version of USDC for the Arbitrum ecosystem. Over time, native USDC liquidity will grow and replace the currently circulating ‘bridged USDC’ liquidity that comes from Ethereum.” Benefits Of The Native USDC Circle highlighted several benefits of the native USDC launching on the highly popular Arbitrum layer-2 network. According to the company, the biggest advantage would be bringing Cross-Chain Transfer Protocol (CCTP) to Arbitrum. This would eliminate bridge withdrawal delays. Other benefits highlighted by Circle include upgradable smart contracts and the possibility of introducing institutional on and off-ramps, along with other improvements.Upgradable smart contracts would allow Circle to conduct future enhancements to the contract. Circle also talked about liquidity migration in its statement, asserting that Arbitrum would collaborate with all ecosystem apps to ensure a smooth transition of liquidity from bridged USDC to native USDC. The Arbitrum Bridge will not undergo any immediate changes during the transition period. It will continue operating normally and bridge USDC to and from Ethereum. What The Future Holds Moving forward, Circle hopes to bring CCTP to Arbitrum following the launch of the native USDC stablecoin, which would allow the stablecoin to move natively to and from Ethereum and other chains within minutes, eliminating withdrawal delays. The announcement comes a month after Circle had announced the mainnet availability of the Cross-Chain Transfer Protocol (CCTP). Circle has also announced plans to expand the Cross-Chain Transfer Protocol to other chains in late 2023. Back in April, Circle’s Vice President of Product, Joao Reginatto, explained that the Cross-Chain Transfer Protocol would give USDC native interoperability across the Web3 ecosystem. He further added that it would help the protocol address issues related to capital inefficiency and liquidity in decentralized finance (DeFi). “With CCTP, developers can simplify the user experience, and their users can trust that they are always transacting with a highly liquid, safe, and fungible asset in native USDC. This milestone makes USDC a natively multi-chain digital dollar.” Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The company expects to bring CCTP to Arbitrum after the launch of native USDC to eliminate withdrawal delays.

Traditional cryptocurrency mining has become more challenging and less profitable because of the various factors. Expensive equipment, high electricity costs, and increased complexity has put miners in a difficult position. Due to the fact that traditional mining methods come with significant risks, there’s no guarantee of making a profit. Fortunately, there is a new solution: Catmine.io cloud mining. It really is a game-changer. The Challenges of Traditional Mining Traditional mining methods for cryptocurrencies have presented several challenges. They include rising costs, the need for extensive technical expertise, Unpredictable and Unstable Results. Rising Costs and Technical Expertise Traditional Cryptocurrency mining is expensive and requires technical expertise. Miners need to buy specialized equipment, like GPUs, which can be costly. As blockchain technology advances, mining becomes more complex and resource-intensive, requiring even more powerful hardware. This increases the overall costs of mining. Moreover, operating and maintaining mining rigs requires technical knowledge, which poses a challenge for newcomers without technical background. Unpredictable and Unstable Results: Cryptocurrency prices are highly unpredictable and are subject to rapid change. The market is known for its instability and volatility. It makes it challenging to analyze and understand its dynamics, therefore affecting mining profitability. When prices go up, mining is profitable because mined coins are worth more. Miners can sell them for a higher price and make a good return on their investment. But when prices go down, mining profitability decreases. It can even become unprofitable. Miners may struggle to cover costs like electricity and maintenance, leading to potential losses. Catmine.io Cloud Mining: One-stop shop for all traditional crypto mining solutions Catmine.io, a pioneering platform, is revolutionizing the landscape of cryptocurrency mining with its user-friendly approach. By offering cloud mining services, Catmine.io provides a hassle-free alternative to traditional mining methods, addressing the challenges faced by miners. Unlike other platforms, Catmine.io stands out with its simplicity and playful design. Despite its cartoonish appearance, the platform offers a reliable and professional service. Users can easily purchase miners and tools, enabling them to engage in efficient and predictable mining. The website is designed to be user-friendly and accessible, even for those who are unfamiliar with mining. Furthermore, Catmine.io goes beyond mining by incorporating five entertaining mini-games into the platform. These games are designed for user’s enjoyment and provide additional rewards, adding a fun and interactive element to the mining activities. With its advanced mining infrastructure, evolving platform, and the incorporation of enjoyable mini-games, Catmine.io provides users with an efficient and enjoyable mining experience. Any user can seize the opportunity to earn substantial profits, while navigating the dynamic world of cryptocurrencies. Catmine's cloud mining service for CoughingCatCoin offers a user-friendly interface that makes it easy for newcomers to get started. Upon signing up, users receive a free miner and are rewarded with 0.004CCT after registration, allowing them to begin their mining journey with immediate bonuses. Even before the official launch of the platform, Catmine.io has gained a substantial user base. Since September 2021, the website has been operating steadily and is now undergoing a large-scale expansion of its capabilities. To date, users of Catmine.io have collectively mined a total of 41,613.16 CCT, showcasing the platform's effectiveness and the success of its mining services. This impressive user base and cumulative CCT mined demonstrates the credibility placed in Catmine.io as a reliable and profitable cloud mining platform. Users can anticipate even more chances for successful mining in the future as the platform continues to grow and improve its capabilities. With 95,356 users in total, Catmine has established itself as a popular choice for cloud mining CoughingCatCoin. To encourage users earning more coins, Catmine offers an enticing referral program. Users can invite friends and receive 10.82% from all their purchases. This gives any user an opportunity to increase the earnings through referrals. In addition, the platform rewards users with bonuses and gifts on a daily basis. So, the user can get a mini-miner with an infinite lifespan, CCT rewards and a reward equal to 20% of the user's total daily mining. In addition to its lucrative referral program and daily rewards, Catmine boasts the presence of an exclusive cryptocurrency called the Coughing Cat coin (CCT). Since its launch, CCT has demonstrated a remarkable track record of stable growth, making it an attractive investment option. It's important to mention the mechanics of the Catmine.io platform. Users have the option to buy miners, which have defined parameters in the Inventory section of the platform. By purchasing a miner, users can start mining the Coughing Cat coin (CCT). To illustrate the platform's potential, let's consider an example of purchasing a current miner at the prevailing rate and calculating its payback period and profit in dollars. Suppose a miner is priced at 2 CCT, equivalent to $4.36 at the current exchange rate. Based on the past 12 months remarkable growth of 830% in the CCT rate, it is projected that the miner will generate approximately 6.96 CCT in a year. If this upward trend continues, the user could potentially earn around $125 (please note that this calculation is approximate and requires up-to-date data from the website). This example demonstrates that mining with Catmine.io not only yields profitable results but also demands significantly less initial investment compared to traditional mining methods. The CCT coin holds great potential for future development and increasing investment attractiveness as Catmine continues to evolve and expand. The platform's constant development efforts ensure that CCT is poised to experience significant leaps in value. It's important to note that the conversion rate for CoughingCatCoin (CCT) to Bitcoin (BTC) is 1 CCT = 0.00008106 BTC, allowing users to understand the relative value of their mined coins. It should be considered that this reflects the rate at the time of this article's publication. However, it is worth highlighting that the cryptocurrency market is highly dynamic, and exchange rates are subject to constant fluctuations. Considering the consistent growth trend of CCT, it is reasonable to anticipate that the exchange rate will soar to levels many times higher within a year. This projection underscores the potential for substantial returns on investment for early adopters and investors in CCT. With its user-friendly interface, free miner upon sign-up, generous referral program, and the potential to earn significant amounts of CoughingCatCoin, Catmine's cloud mining service is an attractive option for individuals looking to engage in hassle-free and profitable cryptocurrency mining. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Binance CEO Changpeng Zhao has said that he believes the crypto space could see the beginning of a bull run after China Central Television aired a segment on crypto. The CCTV programming has an audience of over 1 billion and could spark a bull run based on past examples. A Rare Segment On Crypto On the 23rd of May, 2023, the state broadcasting corporation, China Central Television (CCTV), aired a segment discussing the adoption of cryptocurrencies. According to the details available, the segment reported that regulators in Hong Kong have made “final preparations” for trading virtual assets in the special administrative region. According to the segment, the regulators are ready to begin accepting applications from virtual asset trading platforms. During the segment, an official representing the Securities and Futures Commission (SFC), Zhonghui Cai, explained that virtual asset regulation faces several challenges, such as the potential for conflict of interest between platforms and clients, cybersecurity, and the surety of client assets. It was previously reported that the guidelines in question would become effective by June 2023. However, the Securities and Futures Commission has yet to approve any virtual asset trading platform for retail investors. Could This Signal An Impending Bull Run? As a result of the broadcast of a segment on Chinese Central Television, the larger cryptocurrency ecosystem is buzzing with excitement. The broadcast on China’s largest state-run broadcaster caught the attention of crypto enthusiasts, including Binance CEO Changpeng Zhao. In response to the coverage, Zhao took to Twitter to predict that the coverage could lead to a bull run in the crypto market, going by previous instances. According to Zhao, past coverages similar to the one on China Central Television have historically sparked bull runs in the crypto markets. “CCTV (China Central Television) just broadcasted crypto. It’s a big deal. The Chinese-speaking communities are buzzing. Historically, coverages like these led to bull runs. Not saying the past predicts the future. And not financial advice.” Changpeng Zhao has plenty of reasons to be bullish. This bullishness stems from the fact that the coverage and greater exposure to cryptocurrencies could lead to increased interest and greater participation in the crypto markets. According to Zhao, this recent exposure to the crypto ecosystem could act as a catalyst and drive individuals to explore and invest in cryptocurrencies driving up asset prices and increasing market capitalization. However, he added that he could not predict the future and that people should be careful when investing in crypto. Broader Implications For Crypto China Central Television is the largest state broadcaster in China and broadcasts an array of programs that reaches an audience of over one billion. Furthermore, the segment did not air or mention anything negative about cryptocurrencies. This is in contrast with the position and stringent regulations adopted by Chinese authorities against cryptocurrencies. This includes a complete ban on Bitcoin mining and cryptocurrency exchanges operating in China. However, ownership of crypto assets is currently permitted. The broadcast could have significant implications for the crypto industry, both globally and in China. The exposure the segment provides could lead to increased awareness and a broader adoption and use of cryptocurrencies. Additionally, institutional investors who were watching Chinese markets and the current regulatory environment could see a ray of hope and gain some level of confidence in the market. This could lead to greater institutional adoption and capital to flow into the crypto ecosystem. In April, the Chinese version of TikTok, Douyin, started publishing cryptocurrency price quotes in its index. Duoyin has over a billion registered users. However, the price quotes were removed and replaced with the following text just a day later. “Unofficial digital currencies do not possess the same legal standing as fiat currencies. Please invest cautiously.” Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

CCTV programming has an audience of over 1 billion within Mainland China.

Bitcoin has seen some exciting action this week, as it experienced a significant price hike on Wednesday due to another TradFi institute taking a beating. However, it was immediately followed by a strong pullback influenced by other factors that soon resulted in a panic selling. Let’s find out more. Bitcoin Financial experts are wondering how the U.S. government’s decision to raise its $13.4 trillion debt ceiling would affect Bitcoin and the crypto market. Robert Kiyosaki has gone to Twitter to warn his followers of the excesses of the banks and recommended gold and bitcoin instead. Bitcoin was sailing higher on Wednesday due to the news of First Republic Bank going under when suddenly, there was a strong pullback. News of Mt Gox and the US Government moving their BTC caused panic selling. A Bitcoin white paper sneakily introduced through every MacOS update since 2018 has been removed from the upcoming operating system update. Ethereum Binance has announced a new and significant upgrade to its ETH staking service, where the crypto exchange will introduce Wrapped Beacon ETH (WBETH) on the staking platform. Altcoins Ripple reported selling over $361 million worth of XRP tokens in the first three months of 2023 (Q1). Technology Lens released a beta version of its blockchain scaling solution, Bonsai, to address the concerning issue of scalability for decentralized social media platforms. Google Cloud has partnered with Polygon Labs to help developers to build, launch, and grow their decentralized applications and Web3 products on the layer-2 blockchain. Former senior technology and security executives from venture capital giant Andreessen Horowitz (a16z) have reportedly started an institutional-focused cryptocurrency custody firm. Payment processing giant Visa is building upon current blockchain technologies to enable users to transact using stablecoins without fiat currency conversions. Stablecoin issuer Circle has launched its Cross-Chain Transfer Protocol (CCTP) on the mainnet, enabling permissionless transfers of USDC natively across supported blockchains. Business Belgian cryptocurrency trading platform Bit4You has announced the suspension of operations after it discovered that CoinLoan, one of its service providers, was declared insolvent by an Estonian court. Investment giant Franklin Templeton has announced that its Nasdaq-listed OnChain US Government Money Fund is now supported on the Polygon Network. Binance.US has withdrawn from its planned $1 billion acquisition of Voyager, citing the "hostile and uncertain" regulatory climate in the United States. Regulation Hong Kong’s Securities and Futures Commission (SFC) is set to publish guidelines on its licensing framework for cryptocurrency exchanges in May. In a viral 2018 video that resurfaced on social media recently, Gary Gensler, the current chairman of the SEC, likened cryptocurrencies to cash. India’s Enforcement Directorate (ED) has frozen around $916 million from bank accounts linked to companies involved in the HPZ token scam. After two years of intensive work, the 20th of April marked the final Plenary vote of the Markets in Crypto-Assets Regulation or “MiCA.” Security Despite being highly ranked by auditing firm, CertiK, the Ethereum-based decentralized exchange Merlin, suffered an exploit in which roughly $1.8 million in funds were lost. CertiK is planning to launch a victim aid fund to return the funds stolen in the Merlin DEX exploit. A single wallet address has been traced to be the mastermind behind the launch of 114 questionable memecoins in just two months. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Circle said that CCTP is a highly secure and capital-efficient way for USDC transfers in an increasingly multi-chain environment.

Stablecoin issuer Circle has launched its Cross-Chain Transfer Protocol (CCTP) on the mainnet, enabling permissionless transfers of USDC natively across supported blockchains. With the new transfer protocol, developers can now build applications that support different native versions of USDC. It is now available across seven primary networks in addition to Ethereum: Solana, Avalanche, TRON, Algorand, Stellar, Flow, and Hedera. Crypto infrastructure providers such as Celer, Hyperlane, LayerZero, LI.FI, MetaMask, Multichain, Rarimo, Router, Socket, Wanchain, and Wormhole have already integrated CCTP. This move from Circle aims to establish an open dollar developer platform for internet-based money transfers. The newly launched CCTP allows USDC to be "teleported" across chains, effectively being destroyed on the source chain and recreated 1:1 on the destination chain, with its U.S. dollar reserves remaining intact. Recently, Circle CEO Jeremy Allaire has voiced concerns over the growing trend of "de-dollarization" as more countries, particularly in Asia and Latin America, move away from the use of the U.S. Dollar as base currency for international trade and finance. At a recent crypto conference, Allaire called for the U.S. government to expedite stablecoin regulation and issue a digital dollar CBDC, warning that failure to do so would be a "giant missed opportunity" for the country. The technology behind CCTP hence attempts to overcome the fragmentation of USDC's $31 billion market cap across various blockchains. Although Circle issues "native" USDC on several top networks, including Ethereum and Avalanche, these asset tranches were essentially partitioned. Users wanting to bridge the gap had to engage in complex and sometimes costly cross-chain transfers. CCTP seeks to replace bridges, which created derivative tokens called wrapped assets, through the aforementioned mechanism of destroying USDC on the source chain and near-instantly recreating it on the destination chain. Circle Product Vice President Joao Reginatto claims that CCTP is a permissionless protocol designed for developers to take advantage of this transport primitive. DeFi apps can integrate relevant smart contracts to streamline stablecoin transfers for users. "With CCTP, developers can simplify the user experience and their users can trust that they are always transacting with a highly liquid, safe, and fungible asset in native USDC. This milestone makes USDC a natively multi-chain digital dollar," Reginatto shares. While USDC is the second-largest stablecoin behind Tether (USDT), its circulation has been shrinking over time, with a current supply at $31 billion, according to blockchain data from CoinMarketCap. This represents a decline of 30% since the beginning of the year and 45% since its all-time high, resulting in a decrease in USDC's market share to 23.5%. In contrast, Tether holds a 62% share of the stablecoin market. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.