Circle’s CCTP Transfer Volume Surpasses $300 Billion Across Blockchains

Circle’s Cross-Chain Transfer Protocol (CCTP) has processed more than $300 billion in transfers between blockchains, marking a new volume milestone for the infrastructure as Circle prepares to pause its first version.

CCTP moves USD Coin (USDC) between blockchains by burning tokens on the sending chain and minting an equal amount on the destination chain. The protocol also supports EURC and cirBTC.

Circle began reducing transfer limits for CCTP V1 on Oct. 31. A general pause is scheduled for Dec. 1, and integrators using V1 need to update their connections for V2 under the CCTP transition schedule.