Circle Ditches Noble Blockchain, Pauses CCTP V1 Amid USDC Support Withdrawal
Circle is withdrawing its support for USDC on the Noble blockchain and pausing its legacy Cross-Chain Transfer Protocol V1 (CCTP V1) before December. This will impact a significant portion of the Cosmos ecosystem, which relies on CCTP V1 for cross-chain transfers.
The decrease in burn limits for CCTP V1 contracts will begin on October 31, and contracts will be paused on December 1. Circle is deploying an updated version of CCTP, known as CCTP V2, on other networks, but Noble, Aptos, and Sui will not receive the update.
Circle has announced a temporary routing solution with the Cosmos teams to maintain USDC flow through alternative channels. However, this may not alleviate the impact for decentralized finance (DeFi) protocols that rely on CCTP V1 for cross-chain transfers.