XDEFI, a prominent multi-chain wallet provider, has announced the integration of Circle’s Cross-Chain Transfer Protocol (CCTP) to facilitate safer and simpler USDC cross-chain swaps. The collaboration aims to streamline the user experience. Decentralized Finance According to circle.com, CCTP’s powerful infrastructure can be leveraged to implement (DeFi).
Strengthening Financial Wellbeing
Launched in 2020, XDEFI is a cryptocurrency and Decentralized applications (dApps) can significantly improve financial well-being. Despite this potential, the technology is still in its infancy, and the growing number of blockchains and infrastructure options can be overwhelming for users. XDEFI solves these problems by supporting hundreds of blockchains, including EVM chains, Cosmos chains, Bitcoin, Solana, and THORChain, simplifying user decision-making.
CCTP’s role
Circle’s CCTP has become a key component in XDEFI’s mission to make cryptocurrencies more secure and accessible. XDEFI was one of the first wallets to integrate CCTP, acknowledging its well-documented, stable, fast, and secure infrastructure. This integration has been instrumental in making decentralized finance more cost-effective and user-friendly.
Currently, over 230,000 active users use XDEFI Wallet to manage their blockchain-based finances. The wallet’s new Gas Tank feature allows users to deposit USDC to pay for gas on any of the 36 supported blockchains. XDEFI chose USDC for its reliability, stability, and ease of use from a developer perspective. In particular, XDEFI eliminates all fees associated with CCTP, providing savings to users in line with Circle’s fee-free approach.
Important milestone
Last year, XDEFI facilitated $200 million in CCTP bridge volume. As of June 2024, the wallet natively supports USDC on six chains and all available CCTP paths. This seamless integration allows users to easily move USDC between blockchains, treating USDC as a single asset that exists across multiple chains.
The reliability and fee-free transfers offered by CCTP represent a significant leap forward toward XDEFI’s vision of creating a user experience comparable to traditional exchanges. Our partnership with Circle is expected to continue to drive innovation that improves the DeFi landscape.
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