- CCTP V2 from CIRCLE reduces the time for USDC Crosschain transfers from 15 minutes to a few seconds and is suitable for all Ethereum and L2 networks.
- Approval in Dubai and Thailand consolidate the position of USDC and strengthen trust and acceptance on global financial markets.
The cross-chain transactions from USDC users will soon change significantly. With his cross-chain transfer protocol version 2(CCTP V2) Circle just started to shorten the transaction duration from ten minutes to a few seconds. In the world of digital transactions, this is not just an improvement, but a significant leap forward.
CCTP V2: Der Crosschain Traffic-Turbo
Moving USDC between blockchains such as Ethereum and Layer 2 used to take a lot of time. Thanks to CCTP V2, this process can now be done practically immediately. In order to move money from one network to another, users no longer have to wait long.
Two main features enable this change. As the name suggests, “almost transfer” enables the fast shipping of USDC. “Hooks” enable developers to automate tasks after a transfer, and give them more freedom. For example, users can automatically manage funds or act immediately with assets without having to switch on middlemen.
Circle obtains legal jam in Dubai
On the other hand, CNF reported that the Dubai Financial Services Authority (DFSA) approved the USDC and EURC from Circle. With this legal clarity, Circle strengthens its stable coin position in one of the largest financial centers in the world, the Dubai International Financial Center (DIFC).
The Chief Strategy Officer from Circle, Dante Dispafte, emphasized that this measure is part of a larger initiative that aims to increase the acceptance of regulated stable coins.
This type of regulation is not just a formality. The official recognition of a stable coin strengthens the trust of the market. This is not only a welcome message for circle, but also for the crypto sector in general.
USDC receives approval in Thailand
In addition, the Thai securities and stock exchange supervisory authority (SEC) USDC and USD formally included in the list of digital assets approved for trading on March 10, 2025. So far, this list only consisted of Bitcoin (BTC), Ethereum (ETH), XRP, Stellar (XLM) and some tokens that are used in the Bank of Thailand billing system.
One could compare this action with the opening of a toll road for the acceptance of USDC in Thailand. The users now have more options when using stable coins for their transactions. This also shows that the authorities have recognized the value of digital assets in the modern financial system.
Circle: Not just on stable coins
Circles is not only dependent on USDC to increase its influence. The company announced on January 21, 2025 that it acquired Hashnote and starts the usyc tokenized money market fund. Your goal is to quickly increase your presence on the market for digital assets.
Two days after this announcement, Circle again drew interest in the publication of PAMATER, a product that enables users to connect to decentralized apps by only using USDC without needing the native tokens of the blockchain.
This type of innovation shows that Circle wants to be a larger blockchain-based financial infrastructure provider than just a stable coin issuer.
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