Monitor this situation.
Unsubscribe anytime.
[SITUATION] · [ACTIVE] · [TECHNOLOGY]
2 clusters · 4 sources · 13 days · First seen · Last updated
Circle CCTP protocol transition and updates
Overview
Circle is transitioning its Cross-Chain Transfer Protocol (CCTP) from its first version to a second version. The company announced that the legacy CCTP V1 protocol will be deprecated, with a final deadline to pause the system set for December 1, 2026. The transition process is scheduled to begin on October 31, 2026, through a gradual reduction in burn limits for V1 contracts. Developers are encouraged to migrate to CCTP V2, which offers technical improvements such as programmable hooks and support for both Standard and Fast Transfer modes across 27 blockchains.
As part of the protocol's evolution, Circle has implemented a prepaid fee system for the CCTP Fast Transfer service. This update allows developers to use a Quote API to collect cross-chain USDC fees on the source network using either USDC or the native gas token. This mechanism ensures that the recipient receives the exact intended amount without deductions, as previous models often deducted protocol fees from the USDC minted on the destination network.
Entities
Timeline
-
3 days ago
[TECHNOLOGY] 3 sourcesCircle implements prepaid fees for CCTP Fast TransferCircle has added prepaid fee capabilities to its CCTP Fast Transfer service, allowing developers to collect cross-chain USDC fees on the source network so recipients receive the full intended amount.
-
15 days ago
[TECHNOLOGY] 3 sourcesCircle to deprecate CCTP V1 protocol by December 2026Circle will deprecate its CCTP V1 protocol on December 1, 2026, requiring developers to migrate to CCTP V2 for native USDC cross-chain transfers.
Sources
bitcoinethereumnews.com · crypto.news · cryptobriefing.com · techxeber.az