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How the usdc bridge works? Can I use it to

send funds directly to binance?

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Yes, you can

It's best to send to an erc20 address you own the keys to, obviously via the bridge, in step 1 you add the address, then you will send usdc to an erd1 address provided. Transactions are processed in batches and checked manually so it can take a few hours

I've used it but with my own adr. i did not recommend to use an adr provided by any CEX

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