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Sonic, one of the fastest-growing blockchains for stablecoin activity, is set to transition from bridged USDC to native USDC and integrate Circle’s Cross-Chain Transfer Protocol V2 (CCTP V2).
The upgrade is expected to begin with a bridging pause on May 6, with full deployment completed approximately a week later, Sonic Labs announced.
Launched in December 2024, Sonic has quickly become a leading hub for bridged USDC, boasting over $480 million in bridged USDC and $1 billion in total value locked. The upcoming shift to native USDC (USDC) aims to further streamline liquidity and offer developers a more consistent user experience.
The upgrade will require no action from developers or users.
Existing USDC.e tokens will automatically convert to native USDC, eliminating the need for manual swaps or contract changes.
During the upgrade, USDC.e will remain fully functional for trading and bridging through third-party tools.
The transition also brings CCTP V2 to Sonic, a protocol that uses a burn-and-mint model to enable faster and more secure USDC transfers across supported blockchains.
In other words, CCTP V2 is Circle’s protocol that enables native USDC to be burned on one blockchain and instantly minted on another, allowing fast, secure, and capital-efficient cross-chain transfers without using wrapped assets.
It enhances interoperability across supported chains and simplifies integration for developers.
Sonic will join Avalanche, Base, Ethereum, and Linea as part of CCTP V2’s interoperable network.
Circle will take over ownership of the bridged USDC contract during the transition, allowing the rollout of native USDC and integration of Circle Mint services for institutional access.
This move is expected to enhance smart contract functionality, improve liquidity, and unlock new use cases across Sonic’s growing ecosystem of over 125 applications.
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Sonic to upgrade from bridged to native USDC, adds CCTP V2 support – Crypto News
