Seamless USDC transfers via XSwap are live on XDC Network

XSwap Protocol has completed the integration of Circle’s bridged USDC standard on the XDC Network. Bridged USDC enables seamless and secure transfers of USDC between XDC Network and USDC-supported blockchains, including Ethereum and Arbitrum at launch.

The bridging platform is a permissionless, on-chain utility that facilitates the transfer of USDC via a native lock-and-mint process. This mechanism allows USDC to be transferred from one blockchain to another, maintaining a 1:1 correspondence throughout the process. Unlike traditional methods that often involve creating synthetic versions of assets, bridged USDC ensures that liquidity remains unified and capital-efficient.

Bridged USDC will significantly enhance XDC Network’s cross-chain capabilities as users will be able to move USDC seamlessly from different blockchains, such as Ethereum and Arbitrum, to XDC Network.

Advantages of Bridged USDC on XSwap

1. Enhanced Liquidity. Bridged USDC provides a unified liquidity layer, allowing more users to access the XDC Network and its ecosystem of applications, while also supporting more efficient trading and asset management on XSwap.

2. Cost Efficiency. The lock-and-mint process reduces transaction fees, making it more economical for users to move USDC across chains. This is driven, in part, by XDC Network’s low gas fees as compared to other blockchains.

3. Seamless Transactions. Bridged USDC enables quick and efficient transfers, eliminating delays often associated with traditional bridging solutions. Users can transact with confidence, knowing that their assets are moved securely and promptly.

4. Web3 Access. The bridging platform on XSwap utilizes a web3 protocol that allows users to swap USDC into the bridged USDC standard USDC.e token. USDC.e represents a 1:1 value with USDC. Any user can leverage the bridging platform’s capabilities without needing to sign up for accounts or navigate complex processes.

The USDC Bridge

CertiK Audit Completed

CertiK recently completed a full audit of the bridged USDC standard smart contracts as well as the bridging platform created and maintained by XSwap on XDC Network. The audit resulted in a AA security score.

Conclusion

Bridged USDC managed by XSwap on the XDC Network is an essential tool for cross-chain transfers. Currently utilizing traditional bridging technology, it is set to evolve, enhancing its efficiency. This bridge plays a crucial role in enabling secure and seamless asset transfers across blockchains.

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