USDC Launches Natively on Sonic Blockchain Following Upgrade
Circle’s U.S. dollar-pegged stablecoin, USDC, is now live natively on the Sonic blockchain, following the completion of a transition from a bridged version of the token to a native deployment, the company announced Tuesday. The update enables Sonic developers and users to interact with native USDC without requiring additional action. The bridged version has been upgraded in place automatically, simplifying the transition process for existing participants. Sonic becomes the 20th blockchain to offer native USDC support, furthering the stablecoin’s accessibility across multiple networks. Circle said the move is part of its ongoing efforts to expand cross-chain functionality and liquidity options for institutional and retail users. Crosschain Transfers and Institutional Access Enhanced The upgrade introduces support for Circle’s Cross-Chain Transfer Protocol (CCTP) Version 2, which allows USDC to be moved across supported blockchains with minimal delay. CCTP V2 includes functionality for post-transfer automation through smart contract “Hooks,” enabling programmable actions to occur immediately after a cross-chain transfer is completed. In addition to technical improvements, the native integration on Sonic enables institutional users to directly mint and redeem USDC through Circle Mint. This provides a regulated 1:1 on/off-ramp for U.S. dollars, a feature intended to serve enterprise and fintech users looking to maintain price stability in tokenised financial products. Initial participants in the launch include major DeFi platform Aave, crypto exchange Binance, and payment service RedotPay. Their involvement is expected to assist in building early liquidity and usage on the Sonic chain. Part of Broader Multi-Chain Strategy The Sonic deployment is part of Circle’s broader strategy to make USDC available across a growing number of blockchain ecosystems. Native support helps address issues related to asset fragmentation that often arise with bridged stablecoins, which depend on third-party custodians and can carry additional risk. USDC remains one of the most widely used regulated stablecoins in the market, serving as a core asset in decentralised finance applications and as a medium of exchange in digital payments. Circle’s multi-chain roadmap aims to facilitate greater interoperability for developers and institutions navigating a fragmented blockchain landscape. More details on USDC’s multi-chain availability and developer documentation for CCTP can be found on Circle’s official website.
Circle Unveils Payments Network for Cross-Border Settlements
Circle Internet Group, Inc., a global financial technology firm, on Monday announced the launch of the Circle Payments Network (CPN), a new service designed to enable real-time cross-border payments between licensed financial institutions using regulated stablecoins. The network is expected to debut in a limited capacity in May. The CPN aims to modernize a global payments system that remains burdened by delays and high transaction costs. According to the World Bank, international payments can take more than a business day to settle and often carry fees exceeding 6%, disproportionately affecting businesses and individuals in emerging markets. Stablecoin-Powered Infrastructure The network will utilize regulated stablecoins such as USDC and EURC to facilitate instant settlement across different jurisdictions. CPN aims to connect banks, payment providers, digital wallets, and virtual asset service providers to domestic real-time payment systems, providing a consistent compliance framework across borders. Circle said institutions participating in the network must meet strict eligibility requirements, including proper licensing, anti-money laundering (AML) and counter-terrorism financing (CFT) compliance, risk management, and cybersecurity protocols. Circle’s infrastructure integrates smart contracts and modular APIs, allowing developers to build custom financial workflows and applications on the network. Global Institutions Contribute to Design To ensure operational integrity and regulatory alignment, Circle is working with several large global banks, including Deutsche Bank, Banco Santander, Société Générale, and Standard Chartered. These institutions are contributing expertise to the network’s architecture. Standard Chartered’s Global Head of Transaction Banking, Michael Spiegel, said the bank sees the initiative as a way to improve cross-border payments while meeting global compliance standards. Additional partners include fintech firms such as Flutterwave and Coins.ph, OpenPayd, and Fireblocks, which are collaborating to connect their platforms to the CPN. Early Access and Expansion Plans Licensed financial institutions can apply to become early participants. Circle has not specified a full rollout date but confirmed the initial launch will begin in May. The initiative marks a significant move in Circle’s broader strategy to expand beyond stablecoin issuance and into payments infrastructure.
Circle Expands Stablecoin Market Leadership with Hashnote Acquisition
Circle Internet Group, Inc., a prominent global financial technology firm specializing in stablecoins, has
Circle Unveils 2025 USDC Economy Report Highlighting Rapid Growth
Circle Internet Group, Inc., has released its
Circle Becomes First Stablecoin Issuer to Meet Canada’s New Listing Rules
Circle, the issuer of the USD Coin (USDC) stablecoin, has announced its approval under Canada’s new regulatory framework for digital assets. The move establishes Circle as the first stablecoin issuer to meet the country’s updated crypto asset listing rules. This regulatory milestone allows USDC to enter the Canadian market under stricter compliance standards introduced by Canadian securities regulators earlier this year. Additionally, the USDC would remain valid in Canada even after the deadline for delisting non-compliant stablecoins elapses on December 31, 2024. We are the first stablecoin issuer to meet new Canadian listing rules, facilitating $USDC's continued availability on registered crypto asset trading platforms in the Canadian market. Read more about this milestone.https://t.co/0MdTxgfHIM — Circle (@circle) December 4, 2024 It is worth noting that the strict regulations help to enhance consumer protection and ensure financial transparency amid rising cryptocurrency adoption. Notably, the rule entailed comprehensive inputs from the Ontario Securities Commission (OSC) and the Canadian Securities Administrators (CSA) for Value-Referenced Crypto Assets (VRCAs). According to Circle, this approval positions United States dollar-backed USDC as a legally compliant and secure stablecoin option for Canadian businesses and consumers. The development also aligns with Canada’s growing focus on regulating digital assets without stifling innovation. “The availability of USDC in Canada underscores Circle’s compliance with emerging global regulations and marks another step forward in fostering a transparent and accountable digital financial ecosystem,” Dante Disparte, Chief Strategy Officer and Head of Global Policy at Circle stated. Canadian Compliance Standards Tightened for Stablecoin Issuers Under the new rules, stablecoin issuers operating in Canada must adhere to rigorous standards, including detailed disclosure requirements and strict oversight of financial reserves. These measures aim to mitigate risks associated with unregulated cryptocurrencie. Industry experts view this approval as a potential turning point for Canada’s digital asset ecosystem, paving the way for broader institutional and retail adoption of stablecoins. Circle Expands Regulatory Reach The approval marks another significant step in Circle’s efforts to expand its regulatory footprint. The company has actively pursued compliance initiatives across multiple jurisdictions, including the United States and Europe, as part of its strategy to align with evolving global standards. In Canada, the stablecoin sector has faced increased scrutiny following global concerns over cryptocurrency volatility and its impact on traditional financial systems. Regulators have sought to differentiate between stablecoins backed by real-world assets and more speculative digital currencies. Circle’s USDC, a dollar-backed stablecoin, has been positioned as a low-risk alternative within the crypto market, particularly for payments and cross-border transactions.
Crypto Execs Engage with White House Officials in Push for Regulatory Clarity
Many crypto firms have continued to struggle under the present regulatory atmosphere.
Circle IPO Looms As Valuation Hits $5B
The current trading prices may not fully reflect what the future holds for Circle’s real valuation.
Kamala Harris’ Camp Considers Crypto Policy Shift Ahead of Elections, as Trump Gains Ground with Supporters
making a statement that the Democrats are “pro-business, responsible business.”
Circle USDC IPO Faces Hurdles as SEC Scrutiny Intensifies
USDC would require registration with the SEC if deemed a security, leading to increased operational costs for Circle.
