USDC on Arbitrum One: A conceptual overview
Arbitrum One supports two different types of USDC:
- Arbitrum-native USDC (USDC): USDC tokens native to the Arbitrum One chain.
- Bridged USDC (USDC.e): Ethereum-native USDC tokens that have been bridged to Arbitrum One.
This concept doc describes the differences between these two types of USDC, along with relevant historical context.
This document is currently in public preview and may change significantly as feedback is captured from readers like you. Click the Request an update button at the top of this document or join the Arbitrum Discord to share your feedback.
Differences
| Arbitrum-native USDC | Bridged USDC | |
|---|---|---|
| Token Name | USD Coin | Bridged USDC |
| Token Symbol | USDC | USDC.e |
| Token Address | 0xaf88d065e77c8cC2239327C5EDb3A432268e5831 | 0xff970a61a04b1ca14834a43f5de4533ebddb5cc8 |
| Benefits | CEX Support, directly redeemable 1:1 for U.S dollars | More liquidity, compatibility with DeFi protocols |
The Arbitrum Bridge will continue to facilitate transfers of all USDC tokens. When depositing Ethereum-native USDC, the option exists to receive Bridged USDC using Arbitrum's bridge or Arbitrum-native USDC using Circle’s Cross-Chain Transfer Protocol.
Historical context
Arbitrum One has supported Bridged USDC since conception, with over a billion Bridged USDC currently in circulation. On June 8th, Circle added support for the Cross-Chain Transfer Protocol and launched Arbitrum-native USDC, which enables direct minting and burning of Arbitrum-Native USDC on Arbitrum One. Due to this, the Bridged USDC token symbol was renamed from USDC to USDC.e to accommodate Arbitrum-native USDC. Although most platforms have better support for Bridged USDC, the expectation is that this will change over time. At a later date, there will be incentives implemented to help facilitate the conversion of Bridged USDC to Arbitrum-native USDC.