Circle’s USDC and CCTP V2 cross-chain transfer protocol will be integrated into Sam Altman’s World project

Sam Altman’s blockchain project, World, is integrating Circle’s stablecoin USDC and cross-chain transfer protocol into its World Chain.

The integration will allow nearly two million verified users on World who already hold bridged USDC in their World App wallets to convert them into native USDC. This means all their stablecoin assets will be backed on a 1:1 ratio with U.S. dollars and other cash-equivalent assets.

Announced on May 1, World is expanding its footprint in the U.S, making it available for users living in Atlanta, Austin, Los Angeles, Miami, Nashville and San Francisco.

The project previously faced backlash from countries like Brazil and Hong Kong over privacy concerns due to the project’s iris-scanning verification system. As a result, the project declared that it would allow users to request the deletion of their unique iris code.

However, the project did not disclose the exact date for when the integration takes place.

According to the official announcement, the integration of CCTP V2 will enable users to transfer USDC across various chains in a faster and more cost effective way. It will also allow nearly two million verified users on World to easily convert their bridged USDC into native USDC.

"The combo accelerates World Network while opening up access to USDC to more humans in economies that can benefit from a fully-reserved digital dollar, " wrote World project.

Highlighting some key benefits that users will receive through the collaboration, the project stated that they will be able to send remittances using the dollar-pegged stablecoin without incurring high transfer fees.

Next, eligible businesses registered on the World Chain will be able to access institutional on/off-ramps via Circle Mint. Additionally, developers can build using USDC directly into World App Mini Apps and tap into its globally distributed blockchain.

World also plans to bring EURC (EURC), Circle’s MiCA compliant stablecoin pegged to the euro for its users in the near future.