Stablecoins
Circle Announces 95-Day Migration Period for Legacy USDC Cross-Chain Transfers
Circle has announced that developers utilizing its legacy Cross-Chain Transfer Protocol (CCTP) will have 95 days to migrate to the updated version before the old contracts stop processing USDC transfers. The deprecation of CCTP V1 will begin on October 31, with burn limits gradually decreasing until a complete pause on December 1.
During this transition, users will retain access to their funds, and pending redemptions will remain available. Circle has assured that it will maintain sufficient minting capacity to complete outstanding attestations before the legacy system is fully halted.
The migration to CCTP V2 requires developers to make significant code changes, including updating contract interfaces and replacing legacy attestation calls. The new version introduces different contract addresses and APIs, making it incompatible with V1.
As of now, Circle's supported-chain matrix includes 27 blockchains, with Aptos, Noble, and Sui being the only chains still reliant on CCTP V1. Developers must act promptly to ensure uninterrupted service as the operational deadline approaches.
FAQ
What is the deadline for migrating from CCTP V1 to CCTP V2?
The deadline for migrating from CCTP V1 to CCTP V2 is December 1, 2023, after which the old contracts will stop processing USDC transfers.
Will users still have access to their funds during the migration period?
Yes, during the migration period, users will retain access to their funds and pending redemptions will remain available.
What changes do developers need to make to migrate to CCTP V2?
Developers need to make significant code changes, including updating contract interfaces and replacing legacy attestation calls, as CCTP V2 introduces different contract addresses and APIs.
How many blockchains are currently supported by Circle's CCTP?
Circle's supported-chain matrix currently includes 27 blockchains.
Which chains are still reliant on CCTP V1?
As of now, Aptos, Noble, and Sui are the only chains still reliant on CCTP V1.