- Mountain Protocol has integrated Chainlink’s cross-chain transfer technology.
- The Chainlink Cross-Chain Interoperability Protocol (CCIP) will enable USDM users to move yield-bearing stablecoins across Ethereum, Base, and other chains.
Mountain Protocol announced it will use Chainlink’s technology to enable cross-chain transfers of its yield-bearing stablecoin, USDM. The USDM token is fully backed by U.S. Treasury securities.
Mountain Protocol Integrates CCIP
According to a blog post, the integration uses Chainlink’s Cross-Chain Interoperability Protocol (CCIP). Mountain Protocol will adopt this standard to facilitate native cross-chain transfers of its USDM stablecoins across Ethereum, Optimism, Arbitrum, Base, and Polygon PoS. Users will be able to move USDM using the XSwap bridge powered by Chainlink.
Mountain Protocol launches USDM cross-chain native bridging with @chainlink’s CCIP, simplifying transfers and unifying liquidity across multiple blockchains while ensuring security.
You can now move your USDM across chains via https://t.co/KBqYH5C2dx or via @xswap_link’s app.… pic.twitter.com/X1Kx0ctp6k
— Mountain Protocol (@MountainUSDM) October 17, 2024
Using CCIP provides simplified transfers, unified liquidity across supported chains, and enhanced security. This integration represents the latest CCIP adoption within the blockchain ecosystem, allowing users to benefit from easier cross-chain movements while maintaining transactional integrity.
The CCIP-enabled transfer process works by burning tokens on the originating blockchain and minting corresponding tokens on the destination chain. This mechanism preserves supply consistency and transaction integrity, letting users deploy USDM across supported chains for decentralized finance (DeFi) activities. Chainlink’s CCIP plays an important role in the expanding market for tokenized real-world assets (RWA).
On-chain RWA platforms currently show more than 13 billion USD in tokenized real-world assets. Meanwhile, the stablecoin market is roughly 171 billion USD, with USDM’s circulating value reported at about 55.5 million USD on rwa.xyz.
Cross-chain interoperability protocols like CCIP, combined with services such as Proof of Reserve, Data Streams, and Data Feeds, help broaden DeFi access by enabling tokenized RWAs. Beyond token transfers and DeFi use cases, Chainlink CCIP is being applied in gaming, Web3 usernames, and liquidation protection scenarios.