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Circle Launches Native USDC on Sonic Chain with Cross-Chain Upgrade
By: financefeeds|2025/05/14 15:45:04
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Circle, the issuer of the second-largest stablecoin by market capitalization, has officially launched native USD Coin (USDC) on the Sonic blockchain. The move represents a significant advancement in Sonic’s infrastructure, transitioning from bridged USDC.e to a fully native stablecoin experience. This strategic deployment enhances both security and interoperability for users and developers in the Sonic ecosystem. In a seamless upgrade, existing USDC.e tokens on Sonic have been automatically converted to native USDC. Importantly, the token contract address remains the same, ensuring continuity across dApps and wallets. This backward-compatible transition reduces the risk associated with third-party bridges, which have historically been targets for security exploits in the DeFi space. For users, this means greater assurance in the safety and transparency of their assets. Cross-chain composability goes live with CCTP V2 Alongside the native USDC launch, Sonic has integrated Circle’s Cross-Chain Transfer Protocol Version 2 (CCTP V2), enabling native USDC to move seamlessly between supported blockchains including Ethereum, Avalanche, Base, and Linea. This functionality is pivotal for DeFi users seeking fast, low-cost, and secure transfers across different ecosystems. CCTP V2 effectively removes the need for wrapped or synthetic tokens when transferring USDC cross-chain. Instead, it facilitates the burning of USDC on the source chain and the minting of the same amount on the destination chain. This method not only minimizes fragmentation of liquidity but also enhances the composability of decentralized applications across networks. The implementation of CCTP V2 on Sonic elevates the chain’s capabilities, allowing it to participate in a broader cross-chain financial system without compromising on decentralization or security. Institutional access and ecosystem growth ahead Institutional users now have access to Circle Mint directly on Sonic, enabling them to mint or redeem USDC at a 1:1 rate with the U.S. dollar. This feature is expected to boost enterprise-level adoption and deepen on-chain liquidity. Prior to this upgrade, Sonic held more than $480 million in bridged USDC, with its total value locked (TVL) approaching $1 billion. The introduction of native USDC is expected to increase capital efficiency and attract additional users and liquidity providers to the network. With this launch, USDC is now natively supported on 20 blockchain networks, underlining Circle’s commitment to fostering a more connected and efficient multi-chain future. For Sonic, the partnership with Circle marks a transformative moment in its journey toward becoming a leading DeFi platform equipped with institutional-grade tools and interoperable infrastructure. As DeFi protocols and applications continue to demand secure, composable, and high-liquidity assets, native USDC and CCTP V2 integration on Sonic positions the chain to play a critical role in the next phase of decentralized finance.
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