In the initial half of 2023, the cryptocurrency payments operator <a href="https://www.cryptoknowmics.com/news/circle-starts-contributing-reserves-to-new-blackrock-fund">Circle</a> will <a href="https://www.circle.com/en/pressroom/circle-to-bring-euro-coin-and-cross-chain-transfer-protocol-to-solana-in-early-2023" target="_blank" rel="nofollow noopener">introduce</a> its Euro-backed stablecoin Euro Coin and Cross-Chain Transfer Protocol on Solana. Marcus Boorstin, director of engineering at Circle, stated during a discussion at the Solana Breakpoint event in Lisbon, Portugal, that there's currently a lot of interest from the community for the release. He disclosed that <a href="https://www.cryptoknowmics.com/news/ftx-rolling-out-v2-exchange-with-new-matching-engine-in-november">FTX</a>, a cryptocurrency exchange, will enable Euro Coin deposits and withdrawals on Solana. Furthermore, the <a href="https://www.cryptoknowmics.com/news/project-mariana-by-bis-to-investigate-cbdc-connection-with-defi">DeFi</a> protocols Radium and Solend, both based on Solana, have expressed their plan to do so.

https://twitter.com/circle/status/1589229541415096320
<h2>Launch of Cross-Chain Transfer Protocol</h2>
Additionally, according to Boorstin, Cross-Chain Transfer Protocol by Circle would debut on Solana in the initial half of 2023, primarily allowing native transfers of its <a href="https://www.cryptoknowmics.com/news/usdc-will-integrate-with-decentralized-social-to-bring-web3-to-the-masses">USDC</a> stablecoin and eventually adding support for Euro Coin.

With the use of the permissionless infrastructure Transfer Protocol, USDC may flow naturally between supported blockchains. It operates by minting a comparable quantity of USDC on the destination chain while delivering UDSC on the departing chain to be burnt. In addition, he stated that support for Solana will come in the first half of 2023 when the protocol is anticipated to debut on <a href="https://www.cryptoknowmics.com/news/zksync-to-develop-layer-3-blockchain-for-ethereum">Ethereum</a> and <a href="https://www.cryptoknowmics.com/news/opensea-unveils-integration-of-nfts-on-avalanche-chain">Avalanche</a>.

Circle to Bring Euro Coin and Cross-Chain Transfer Protocol to Solana in 2023

In 2023, the cryptocurrency payments operator Circle will introduce its Euro-backed stablecoin Euro Coin and Cross-Chain Transfer Protocol on Solana.

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Circle to Bring Euro Coin and Cross-Chain Transfer Protocol to Solana in 2023

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