Circle hopes new cross-chain USDC protocol will reduce exploits
Circle, creators of the stablecoin USD Coin (USDC), has launched a mainnet protocol enabling users to transfer USDC between the Ethereum and Avalanche blockchains. The cross-chain bridge is different from other bridges in that, instead of locking tokens sent to its contract, it completely burns coins on the sending chain and then mints new ones on the receiving chain. In the past, Avalanche users with USDC on Ethereum would need to deposit the tokens with a Circle-approved partner or use...