$USDC and Circle’s Cross-Chain Transfer Protocol will launch on the Morph Network, expanding dollar-denominated stablecoin settlement for payment-oriented infrastructure.
Circle to issue $USDC about Morph, expansion of Stablecoin settlement
The rollout introduces canonical $USDC on Morph, issued by Circle’s regulated subsidiaries, establishing the stablecoin as a digital settlement asset within the network. The issuance framework is designed to provide uniform behavior between applications and a clear origin of the chain.
According to the announcement shared with Bitcoin.com News, developers building payment applications will be able to simplify dollar settlement without managing bridging risk or fragmented liquidity. Institutions operating treasury systems, trading platforms and cross-border payment rails will be granted access $USDC supported by Circle’s on- and off-ramp infrastructure.
Morph CEO Colin Goltra said the integration follows months of investment in the network’s core infrastructure and engagement with payment providers looking for a widely used dollar-denominated stablecoin. Goltra stated:
“As we have worked with global leaders in the payments space, it is clear that they need a widely used dollar-denominated stablecoin to meet their needs. For us, working with Circle $USDC for Morph was a clear choice.”
Circle’s Cross-Chain Transfer Protocol, or CCTP, is enabled $USDC transfers between supported blockchains using a burn-and-mint process that maintains delivery integrity. When $USDC is moved to Morph via CCTP, it is burned into the source chain and minted natively on Morph under the same backup framework.
Morph said the integration targets use cases including crypto card programs, neobanks, cross-border remittance platforms, payment gateways and decentralized finance protocols. The network has also launched a $150 million Payment Accelerator to fund teams that build on-chain payment flows and connect them with institutional partners.
Frequently asked questions 🔎
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What’s launching on Morph?
$USDC and Circle’s Cross-Chain Transfer Protocol will be integrated into the Morph network. -
How do cross-chain transfers work?
CCTP uses a burn-and-mint model, which destroys $USDC on the source chain and natively on Morph. -
Who will spend $USDC on Morphing?
Circle’s regulated affiliates will conduct canonical issuance $USDC on the network. -
What is the payment accelerator?
Morph has launched a $150 million program to support teams building on-chain payments infrastructure.