The Dfinity Foundation has introduced a new API called EVM RPC to enhance cross-chain interoperability for Internet Computer (ICP) smart contracts, as announced in a May 23 press release shared with CryptoSlate.

EVM RPC enables ICP smart contracts to interact directly with any Ethereum Virtual Machine-compatible chain, such as Optimism, Arbitrum, and Base, without needing intermediaries. The API also supports the Bitcoin blockchain and will soon extend to Solana.

This API simplifies multi-chain dApp development by eliminating the need for bridges and wrapped tokens, allowing for native chain interactions and liquidity facilitation through network API keys.

Dfinity emphasized the importance of this innovation, stating:

“This way, DFINITY’s Chain Fusion technology enables true multi-chain interoperability, allowing developers to write a single ICP smart contract that can custody Bitcoin, for example, and programmatically trigger sending it based on events observed on an Ethereum DeFi smart contract.”

Interoperable Stablecoin

The new API has enabled the deployment of ckUSDC, an interoperable stablecoin pegged 1:1 to Circle’s USDC stablecoin, on the ICP network.

USDC is the second-largest stablecoin with a market capitalization of $32.83 billion, according to CryptoSlate’s data.

The ckUSDC token, a multi-chain counterpart to USDC, uses chain-key cryptography and ICP smart contracts that directly hold original assets. It functions similarly to other inter-ecosystem tokens like ckBTC and ckETH.

Since its launch, ckUSDC has been adopted by significant projects such as IC Lighthouse, ICPSwap, and Helix Markets, indicating growing demand for this type of token.

Lomesh Dutta, DFINITY’s Growth President, stated that the launch of ckUSDC and the new read/write APIs will drive further development within the ICP ecosystem. He said:

“With the addition of ckUSDC and read/write APIs, dozens of different chains can now leverage ICP smart contracts to freely interact with other networks, making the Web3 ecosystem massively more interoperable and unified.”