Circle will gradually phase out its CCTP V1 cross-chain transfer protocol and begin reducing cross-chain USDC burn limits for the legacy version on October 31. According to ChainCatcher, the reductions will continue for one month as transfer performance declines, before V1 contracts are fully suspended on December 1. Integrations that still use V1 will then be unable to transfer USDC across chains.
The migration is intended to move developers to CCTP V2, which offers standard and fast transfer modes and programmable hooks that can trigger automated actions when USDC arrives on a destination chain. CCTP V2 currently supports 27 blockchains, and Circle said new integrations should be built directly on V2.
Circle said pending redemption requests will remain available during the phase-out. It will keep minting limits above the total amount of pending attestations to ensure all outstanding redemptions can be processed before V1 contracts are fully suspended. The transition plan is intended to make the migration transparent and predictable while minimizing disruption.
Anais
