Stablecoin issuer Circle has launched native USDC and EURC on Plasma, alongside Cross-Chain Transfer Protocol, or CCTP, and Bridge Kit. The rollout gives the stablecoin-focused Layer 1 first-party access to Circle-issued dollar and euro tokens, plus Circle’s crosschain transfer stack.
Circle published mainnet contract addresses for both tokens on Aug. 28. When checked, the linked Plasmascan pages showed a maximum total supply of 4,654,322.737666 USDC with six holders, and 12,866.64 EURC with five holders.
Circle expands Plasma access for institutions, users and developers
Circle said eligible institutional traders and teams will be able to access fiat onramps and offramps for USDC payments and settlement on Plasma, along with deposit, withdrawal and API functionality.
Separately, users can access USDC through Plasma One, which Circle described as the network’s stablecoin app and card. Developers, meanwhile, can integrate both USDC and EURC into applications built on Plasma.
CCTP uses burn-and-mint transfers for native USDC movement
CCTP transfers USDC by burning tokens on the source chain, obtaining a signed attestation from Circle, and minting the same amount on the destination chain. That structure avoids wrapped USDC representations and removes the need for liquidity pools.
Circle said Bridge Kit packages that process for developers, and that a crosschain transfer can be integrated in roughly 10 lines of code.
An Across Protocol guide dated July 17 had already stated that the bridge was routing native USDC to Plasma through CCTP. Circle’s Aug. 28 launch adds official contract listings, EURC, and Circle’s own developer documentation.
Plasma adds Circle-issued dollar and euro rails
Plasma describes itself as a purpose-built blockchain for fast, low-cost stablecoin payments. With this addition, the network now includes Circle-issued dollar and euro options for payments, settlement, trading and treasury operations.
After the Plasma launch, Circle lists USDC as natively supported on 37 blockchains. The company said EURC is now native on eight chains, while CCTP is live on 28.