Circle to Issue USDC on Morph, Expanding Stablecoin Settlement

The rollout introduces canonical USDC on Morph, issued by Circle’s regulated affiliates, establishing the stablecoin as a digital settlement asset across the network. The issuance framework is designed to provide uniform behavior across applications and clear onchain provenance.

According to the announcement shared with Bitcoin.com News, developers building payment applications will be able to simplify dollar settlement without managing bridge risk or fragmented liquidity. Institutions operating treasury systems, merchant platforms and cross-border payment rails will gain access to USDC supported by Circle’s on- and off-ramp infrastructure.

Colin Goltra, CEO of Morph, said the integration follows months of investment in the network’s core infrastructure and engagement with payment providers seeking a widely used dollar-denominated stablecoin. Goltra stated:

“As we have engaged with global leaders in the payment space, it’s clear that they need a widely-used, dollar-denominated stablecoin to meet their needs. For us, working with Circle to bring USDC to Morph was a clear choice.”

Circle’s Cross-Chain Transfer Protocol, or CCTP, will enable USDC transfers between supported blockchains using a burn-and-mint process that maintains supply integrity. When USDC moves to Morph via CCTP, it is burned on the source chain and minted natively on Morph under the same reserve framework.

Morph said the integration is aimed at 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 building onchain payment flows and connect them with institutional partners.

FAQ 🔎

• What is launching on Morph?
  USDC and Circle’s Cross-Chain Transfer Protocol are being integrated into the Morph network.
• How will cross-chain transfers work?
  CCTP uses a burn-and-mint model, destroying USDC on the source chain and minting it natively on Morph.
• Who will issue USDC on Morph?
  Circle’s regulated affiliates will issue canonical USDC on the network.
• What is the Payment Accelerator?
  Morph has introduced a $150 million program to support teams building payment infrastructure onchain.

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