• Mountain Protocol integrates Chainlink's cross-chain switch expertise.
• CCIP, a cross-chain interoperability protocol, helps USDM customers switch high-yield stablecoins between Ethereum, Base, and different chains.

Mountain Protocol has introduced that it’s going to leverage expertise from oracle community Chainlink for cross-chain transfers of its yield-bearing stablecoin USDM.

USDM tokens are absolutely backed by the US Treasury.

Mountain Protocol integrates CCIP

In line with the weblog publish, this integration includes Chainlink's Cross-Chain Interoperability Protocol (CCIP).

Mountain Protocol leverages the usual for cross-chain transfers of stablecoin USDM throughout Ethereum, Optimism, Arbitrum, Base, and Polygon PoS. Customers can use XSwap Bridge powered by Chainlink for these transfers.

Mountain Protocol launches USDM cross-chain native bridging @chain hyperlinkCCIP simplifies transfers and consolidates liquidity throughout a number of blockchains whereas making certain safety.

Now you can transfer USDM between chains through https://t.co/KBqYH5C2dx or. @xswap_linkapp. … pic.twitter.com/X1Kx0ctp6k

— Mountain Protocol (@MountainUSDM) October 17, 2024

That is the newest CCIP integration with blockchain protocols, permitting customers to learn from simplified transfers, built-in liquidity, and safety.

Utilizing CCIP for USDM transfers works by writing tokens on the supply blockchain and producing new tokens on the vacation spot chain. This ensures consistency of provide and integrity of transactions, permitting customers to make the most of stablecoins for decentralized monetary actions on any of the supported chains.

Chainlink’s CCIP is vital to the rising tokenized real-world asset market. In line with rwa.xyz, the entire quantity of on-chain RWA presently exceeds $13 billion. In the meantime, the stablecoin market is round $171 billion and USDM is round $55.5 million per rwa.xyz.

Cross-chain interoperability protocols will assist carry DeFi to extra individuals by tokenized RWA, together with different providers similar to proof of reserve, knowledge streams, and knowledge feeds.

Past token transfers and DeFi, Chainlink’s CCIP has use circumstances similar to gaming, Web3 usernames, and liquidation safety.