Since its launch in 2023, Circle’s Cross-Chain Transfer Protocol (CCTP) has become a fundamental infrastructure for USDC ($1.00) transfers across supported blockchains. As of November 14, 2025, CCTP contracts have processed over $110 billion in cumulative volume and facilitated more than 5.3 million crosschain transfers. This protocol has become essential for applications, bridges, digital wallets, and exchanges that require secure and efficient crosschain transactions.

Circle has announced the next step in CCTP’s evolution. CCTP V2, launched on March 11, 2025, is now the canonical version, while CCTP V1, launched on April 26, 2023, will be referred to as CCTP V1 (Legacy). The legacy version will remain available during a deprecation period of approximately 10 months, with its phase-out beginning on July 31, 2026.

Enhanced Capabilities with CCTP V2

CCTP V2 introduces several enhanced capabilities for USDC crosschain transfers. It supports standard transfers that match source chain finality, a feature carried over from CCTP V1 (Legacy). Additionally, CCTP V2 offers fast transfers, enabling near-instant crosschain transactions for latency-sensitive applications such as trading and liquidity management.

The new version also includes ‘Hooks,’ which allow for post-transfer automation and composability, enabling developers to create more streamlined workflows. CCTP V2 is currently live on 17 blockchains, with plans for further expansions.

Future Developments and Migration

Circle is committed to expanding CCTP V2 by integrating more blockchains and supporting additional assets. An upcoming forwarding service is planned to automate crosschain product processes, including handling attestations and paying destination chain gas fees.

Developers using CCTP V1 (Legacy) are encouraged to begin planning their migration strategy using Circle’s CCTP Migration Guide. The canonical CCTP contracts are live on all CCTP V1 (Legacy) supported chains, except for Aptos, Noble, and Sui. Circle aims to launch these contracts on Aptos and Sui by mid-2026 and is working with Noble and Cosmos ecosystem teams on interim solutions.

Circle will review the migration progress in the first half of 2026 and may provide updates, including manual steps to process pending attestations as the phase-out of CCTP V1 (Legacy) commences.

For more information, visit the official announcement here.

Why This Matters: Impact, Industry Trends & Expert Insights

Circle has announced the evolution of its Cross-Chain Transfer Protocol (CCTP) with the introduction of CCTP V2, enhancing USDC transfers across multiple blockchains with improved speed and security features.

Recent industry reports indicate that CCTP V2 has rapidly gained traction, showcasing significant growth in cross-chain USDC transfers. This aligns with the news of CCTP V2’s enhanced capabilities, which include near-instant transaction settlements and expanded blockchain support, positioning it as a key player in the stablecoin infrastructure.

As per insights from Faisal Khan, the CCTP V2 is viewed as a transformative advancement in cross-chain USDC transfers, significantly improving speed and security. This supports the impact of CCTP V2’s launch, which enhances interoperability and broadens the scope for stablecoin use in cross-chain liquidity and payments.

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