Universal Announces Shutdown of Cross-Chain Asset Protocol

Universal has announced it will shut down its cross-chain asset protocol. The protocol will continue normal operations for the next 60 days, until November 17, 2026. According to ChainCatcher, Universal launched two years ago to build Universal Assets, or uAssets, bringing assets such as SOL, XRP, and DOGE into a new ecosystem, with more than 80 assets supported. The team said adoption has not reached a level that is sustainable in the long term, prompting the shutdown decision. During the wind-down period, uAssets will remain backed by underlying assets, and users will be able to sell through the Universal app or redeem the underlying assets through the mint-and-redeem interface. Larger redemptions can be coordinated by contacting [email protected]. After November 17, remaining uAssets will be redeemed through smart contracts: six uAssets on Base will correspond to SOL, cbXRP, cbDOGE, cbADA, cbBTC, and cbLTC, while all others will be redeemed as USDC. The final plan will be announced before the shutdown.