Circle CCTP bridge
Overview
Circle CCTP (Cross-Chain Transfer Protocol) is a permissionless on-chain protocol developed by Circle for transferring USDC natively across blockchains. It uses a burn-and-mint mechanism — burning USDC on the source chain and minting native USDC on the destination — eliminating the need for wrapped assets or third-party bridge liquidity. CCTP V2, now the canonical version, adds faster transfers and programmable hooks.
In 2026, CCTP drew scrutiny after attackers used it to move roughly $230 million of the USDC stolen in the $280 million Drift Protocol exploit; Circle subsequently faced a class-action lawsuit over its decision not to freeze the funds. CCTP's own contracts were not exploited.
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Frequently asked questions
What is Circle CCTP?
Circle CCTP (Cross-Chain Transfer Protocol) is a permissionless on-chain messaging protocol developed by Circle for transferring USDC natively across blockchains using a burn-and-mint mechanism.
How does Circle CCTP transfer USDC across blockchains?
Circle CCTP uses a burn-and-mint mechanism, eliminating the need for wrapped assets or third-party bridge liquidity.
What is Circle CCTP designed to enable?
Circle CCTP is designed to enable developers to integrate cross-chain USDC transfers directly into smart contracts and dApps.