Circle is introducing a new native USDC token for the Arbitrum network starting on June 8th. The stablecoin will replace Arbiturum’s current bridged version of USDC (which will be changed to USDC.e) from the Ethereum token so that the official cryptocurrency can be used directly with Circle’s institutional on and off ramps for fiat. 

Circle is also planning to add Cross-Chain Transfer Protocol (CCTP) support to the Arbitrum network which will allow USDC to seamlessly migrate to the Ethereum blockchain. With upgradeable smart contracts also in development, Circle is creating infrastructure to enable large-scale liquidity migration between the two blockchains