Company
Date Published
Author
Team Circle
Word count
471
Language
English
Hacker News points
None

Summary

Circle Internet Financial announced that it will discontinue support for USDC on the Flow (Cadence) blockchain, effective September 3, 2024, due to an impending network upgrade. Minting of USDC on Flow will cease on August 27, 2024, and users are urged to transfer their holdings to other blockchains before the deadline. After September 3, Circle will freeze all USDC on Flow, take a snapshot of balances, and initiate a manual redemption process starting September 4 for those meeting specific compliance and security requirements. Circle will assist its Mint customers with transfers up to the deadline, while retail holders and non-Circle customers are directed to Flow's website for swap options. Dapper Wallet users are advised to check Dapper's newsroom for guidance. Details on the manual redemption process for eligible users will be available via Circle's Help Center from September 4. Circle reaffirms its commitment to expanding USDC's reach and supporting the Flow ecosystem, emphasizing its dedication to delivering a secure and inclusive financial experience globally.