Circle starts cutting legacy USDC app transfer limits on October 31
Circle plans to phase out CCTP V1, lowering USDC burn limits from Oct. 31, 2026, before pausing its contracts on Dec. 1. Applications that have not migrated will eventually be unable to transfer USDC across blockchains. Circle says pending redemptions will remain processable during the phase-out, with minting allowances maintained for outstanding attestations. Migration to V2 requires integrations to update contract calls, addresses and APIs because the versions are incompatible. V2 uses new interfaces, including TokenMessengerV2 and MessageTransmitterV2, and changes how integrations retrieve attestations. It also offers Standard and Fast Transfer modes and programmable destination-chain hooks; Fast transfers carry variable fees. Some V1 functions, including replaceDepositForBurn, have no V2 equivalent. The transition was announced in 2025, and Circle published the phase-out schedule in August 2026.
