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Circle launched Cross-Chain Transfer Protocol V2
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Another new feature, called Hooks, allows developers to program automatic actions such as asset swaps or treasury management on the receiving blockchain. This reduces manual processing and enhances efficiency for decentralized finance (DeFi) applications.
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Circle has launched on Tuesday the upgraded version of its Cross-Chain Transfer Protocol (CCTP V2), a tool that facilitates USDC transfers across blockchains. The company said that the upgrade significantly cuts down transaction times to seconds from the typical 13-19 minutes on Ethereum and its Layer 2 networks.
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