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Cryptocurrency News Articles
Aptos and Circle Integrate Aptos Network with Stripe’s Crypto Products and CCTP
Nov 22, 2024 at 09:17 am
The integration of Aptos into Stripe’s crypto onramp and payouts products, paired with native USDC, will provide reliable fiat on and off-ramps for the Aptos network, streamline merchant pay-ins and payouts, and offer a seamless connection between traditional finance and blockchain technology.
Aptos Network, a Layer 1 blockchain known for its high throughput and low latency, has announced several major integrations with ストライプ and Circle, a USDC stablecoin issuer, to enhance the user experience for DeFi and global payments.
These integrations include the addition of Aptos to Stripe’s crypto onramp and payouts products, the launch of native USDC on the Aptos network, and the integration of Aptos with Circle’s Cross-Chain Transfer Protocol (CCTP). Together, these moves will streamline fiat on and off-ramps, enable seamless cross-chain experiences, and pave the way for new possibilities in decentralized finance (DeFi).
Aptos to Join Stripe’s Crypto Products, Enabling Seamless Fiat-to-Crypto Conversions
Stripe, a leading payment technology company, has integrated Aptos into its crypto onramp and payouts products, allowing users to seamlessly convert fiat currencies into USDC, directly through Aptos-enabled wallets. This integration will enable the use of USDC for Stripe’s global network of businesses, including Web3 protocols, NFT marketplaces, and gaming studios.
The combination of Stripe’s payment tools and Aptos’ scalable network unlocks new opportunities for global merchants and payment providers to process transactions faster, more securely, and at lower costs.
“Adding support for the Aptos blockchain inside our crypto products broadens consumer and merchant access to more efficient global fund flows with stablecoins; whether it be a retailer accepting payments from around the world, or a platform paying creators no matter where they are,” said John Egan, Head of Crypto at Stripe. “This collaboration brings Stripe’s global network together with the power of the Aptos blockchain, opening new avenues for both merchants and consumers to access efficient, stablecoin-based payments.”
Aptos Labs, the core contributor to the Aptos blockchain, provided technical expertise for these integrations, ensuring optimal performance and user experience.
Native USDC to Launch on Aptos Network, CCTP to Enable Cross-Chain Transfers
In another major development, Circle, the principal issuer of USDC, will launch native USDC on the Aptos network. This move will streamline the issuance and circulation of USDC on Aptos, paving the way for faster and more efficient transactions within the Aptos ecosystem.
Furthermore, Aptos will be integrated with CCTP, a decentralized cross-chain protocol that enables secure and efficient native USDC transfers across supported blockchains. With the addition of Aptos, CCTP will support nine blockchains – including Arbitrum, Base, Ethereum, and Solana —and 72 routes with 1:1 capital efficiency.
This integration will allow for seamless cross-chain onboarding, swaps, purchases, treasury rebalancing, and more – all while maintaining an accessible and intuitive user experience.
“The DeFi ecosystem on Aptos has grown to five times its original size in the past year alone, and it’s clear why,” said Nikhil Chandhok, Chief Product Officer at Circle. “Aptos has emerged as a highly efficient way to move money across the globe. The arrival of native USDC and CCTP will only enhance this, and further the vision we share with the Aptos Foundation team of a future where secure digital dollars create a more accessible economy for everyone.”
These integrations are a testament to Aptos’ commitment to building a vibrant and accessible DeFi ecosystem, and we are excited to see how these developments will empower builders and users alike.
“USDC and CCTP are the gold standards in DeFi, and Stripe is among the most trusted names in financial infrastructure,” said Bashar Lazaar, Head of Grants and Ecosystem at Aptos Foundation. “Circle and Stripe’s integration of Aptos moves the needle in creating a more accessible, secure, and decentralized future of finance. We’re all looking forward to this integration, and are eager to see what the incredible builders in the Aptos ecosystem make possible with this powerful new technology in their toolkit.”
Aptos: Unifying Force in Global Economy, Enabling Peer-to-Peer Money Movement
Aptos aims to make the globally connected economy accessible to everyone by simplifying the movement of economic value. The blockchain’s high throughput, low latency, and advanced smart contract capabilities are designed to optimize DeFi applications, enabling fast, secure, and scalable transactions.
“Aptos makes the globally connected economy accessible to everyone by simplifying the movement of economic value,” said Mo Shaikh, CEO of Aptos Labs, which provided technical expertise for the integrations. “I’m looking forward to seeing Aptos becoming a unifying force in the global economy, providing infrastructure that enhances payment efficiency while bringing the peer-to-peer money movement to life for its ecosystem and builders.”
For more information about Aptos Foundation and DeFi on Aptos, visit:
https://aptosfoundation.org/ecosystem/projects/defi
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