The tool is compatible with Lightning, Ethereum, Arbitrum, Base and Polygon.
The user maintains control of their funds throughout the entire operation.
The non-custodial exchange service, Boltz, announced on May 6 the launch of “USDC Swaps”, a tool that allows you to exchange bitcoin for USDC, the stablecoin issued by Circle, without having to deliver funds to an intermediary or complete identity verification processes (KYC).
Through a x postthe new feature supports different layers of the Bitcoin ecosystem, including the Lightning Network, and seeks to simplify the movement of money between bitcoin and regulated digital dollars.
Although converting Bitcoin to stablecoins is not something new, most of the options currently available work through centralized exchanges. In such cases, users typically have to create accounts, submit personal documents, and temporarily leave their funds under the control of third parties while the transaction is processed.
With what Boltz announced, the user maintains control of their funds throughout the process. The exchange occurs on a “non-custodial” basis, meaning that the platform never directly holds the user’s money while the conversion is taking place.
The tool used is based on the Cross-Chain Transfer Protocol (CCTP), developed by Circle. This system allows USDC to be moved between different networks without resorting to “wrapped” versions. nor to external bridges. The integration allows the tool to operate with USDC compatible networks such as Ethereum, Arbitrum, Base and Polygon.
Among the possible uses of These types of swaps are found to quickly convert income in Bitcoin to digital dollarspayroll payments, invoice settlement and commercial operations for companies that work with cryptocurrencies but need to use assets linked to the dollar.
According to the advertisement From the company, USDC swaps are now available to all users of boltz.exchange . According to the company, integration with various SDKs and the Boltz BTCPay plugin will be done in the coming weeks.
The announcement comes after adding a feature that allows you to convert bitcoin on the Lightning Network to the stablecoin Tether (USDT) through atomic swaps, without the need for intermediaries, accounts or identity verification.