Circle launches CCTP V2 with fast transfers and hooks on Ethereum and Avalanche

Circle/CCTP / Circle Payments Network

Circle launched CCTP V2, replacing V1 as the canonical cross-chain protocol. The upgrade introduces Fast Transfers that reduce wait times from 13 minutes to 8-20 seconds using Circle's allowance mechanism, and Hooks for post-transfer automation like swaps and deposits in a single transaction. Initial deployment was on Ethereum and Avalanche.

• Fast Transfers reduce settlement latency from finality (13 min on Ethereum) to 8-20 seconds via Circle's allowance, enabling faster trading and liquidity management.
• Hooks enable destination contracts to execute logic in the same transaction as the mint, supporting swaps, deposits, and payments atomically.
• Rollout to additional chains including Base, Arbitrum, Linea, OP Mainnet, Polygon PoS, Unichain, World Chain, Sonic, and Codex occurred throughout 2025.
• Solana support was added in October 2025.