CCTP / Circle Payments Network: status and timeline

Milestones

Next · CCTP V2 reaches 27 blockchains

CCTP V1 launch2023Complete.
CCTP V2 launched on Ethereum and Avalanche11 Mar 2025Complete.
CCTP V2 rollout to other major chains2025Complete.
Solana support addedOct 2025Complete.
CCTP V2 becomes canonical protocol; V1 deprecation begins14 Nov 2025Complete.
CCTP V1 manual phase-out31 Jul 2026Complete.
CCTP V2 reaches 27 blockchainsTarget Oct 2026Current milestone.

Most important updates

Circle makes CCTP V2 canonical; V1 deprecation begins with 10-month transition period14 Nov 2025
Circle launches CCTP V2 with fast transfers and hooks on Ethereum and Avalanche11 Mar 2025

Upcoming

Oct 2026CCTP V2 reaches 27 blockchains (next)

Current obstacles

Multi-jurisdiction regulatory complianceUSDC operates under the GENIUS Act (US) and MiCA (EU). Each new blockchain requires compliance validation in its jurisdictions.

Physics limits

Settlement depends on chain finalityEven with Circle's fast allowance, the underlying settlement still depends on the slowest chain's finality time. Cross-chain settlement can never be faster than the slowest link.

How it works

3 parts

Burn-and-Mint

Native asset transfers

USDC is burned on the source chain and minted on the destination. Atomic settlement ensures the transfer completes fully or fails with no partial state.

Fast Transfers

Circle allowance reduces latency

Circle's allowance reduces settlement from 13 minutes to 8-20 seconds for trading and liquidity management.

Hooks

Post-transfer automation

Hooks execute destination logic in the same transaction, enabling swaps and deposits atomically without additional calls.

Spec sheet

Spec	CCTP / Circle Payments Network
Blockchains supported (V2)	27 mainnet chains^R (reported)
Fast transfer latency	8-20 seconds^R (reported)
Ethereum hard finality baseline	13 minutes^R (reported)
Chains with fast transfer support	14 chains^R (reported)

^R reported by the company

Update log

2 updates

Fri 14 Nov 2025

Major: Circle makes CCTP V2 canonical; V1 deprecation begins with 10-month transition periodPressSoftware

Tue 11 Mar 2025

Major: Circle launches CCTP V2 with fast transfers and hooks on Ethereum and AvalanchePressSoftware

About Circle

The team behind CCTP / Circle Payments Network

Circle

USDC stablecoin, CCTP, Arc L1

Issuer of USDC, the second-largest dollar stablecoin, backed by cash and short-term US Treasuries, mostly in a BlackRock-managed fund. Listed on the NYSE in June 2025. Launched Arc, its own blockchain built for stablecoins, in Sept 2026.

NYSE IPO on 5 June 2025. The GENIUS Act set US federal stablecoin rules the next month.
Arc mainnet launched 16 Sept 2026 with USDC for fees. BlackRock and Visa are among its first validators.
CCTP moves USDC between chains by destroying it on one and creating it on the other, with no wrapped copies.

circle.com (opens circle.com)Company profile →

Founded: 201313 yrs
Headquarters: United States
Status: Public
Listed: CRCL (opens google.com)NYSE
Valuation: public
Works in: CryptoStablecoins & tokenization
Coverage: 3 programs · 14 updateslatest 24d agochecked 25 Sep
Partners: CoinbaseBlackRock (opens blackrock.com)Visa (opens visa.com)
Suppliers: BNY (opens bny.com)
People: Jeremy Allaire (opens en.wikipedia.org)Co-founder, Chairman & CEOHeath Tarbert (opens en.wikipedia.org)President

Spec

CCTP / Circle Payments Network

Blockchains supported (V2)

27 mainnet chains^R (reported)

Fast transfer latency

8-20 seconds^R (reported)

Ethereum hard finality baseline

13 minutes^R (reported)

Chains with fast transfer support

14 chains^R (reported)