- Mountain Protocol has integrated Chainlink’s cross-chain transfer technology.
- Chainlink’s CCIP will enable USDM users to move yield-bearing stablecoins across Ethereum, Base and other chains.
Mountain Protocol announced it will use the oracle network Chainlink’s technology to enable cross-chain transfers for its yield-bearing stablecoin, USDM. USDM is fully backed by U.S. Treasury securities.
Mountain Protocol Integrates CCIP
According to a blog post, the integration centers on Chainlink’s Cross-Chain Interoperability Protocol (CCIP). Mountain Protocol will adopt CCIP standards to support cross-chain transfers of USDM across Ethereum, Optimism, Arbitrum, Base and Polygon PoS. Users will be able to move USDM using Chainlink-supported bridges such as the XSwap bridge.
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
This marks the latest CCIP adoption by blockchain protocols, offering users streamlined transfers, unified liquidity and enhanced security. CCIP-enabled USDM transfers follow a burn-and-mint model: tokens are burned on the origin chain and newly minted on the destination chain. That approach preserves supply consistency and transaction integrity while allowing users to use USDM for decentralized finance across supported networks. Chainlink’s CCIP plays a central role in the expanding tokenized real-world-asset (RWA) market.
Data from rwa.xyz shows the on-chain RWA total exceeds $13 billion, and the broader stablecoin market is around $171 billion, with USDM’s on-chain supply roughly $55.5 million according to rwa.xyz. Cross-chain interoperability, together with services such as reserve attestations, data feeds and provenance, is helping bring DeFi to a wider audience through tokenized RWAs. Beyond token transfers and DeFi, Chainlink’s CCIP also supports use cases including gaming, web3 usernames and liquidation protection.