Company
Date Published
Author
Team Circle
Word count
755
Language
English
Hacker News points
None

Summary

Circle Internet Financial has announced that Linea, a zkEVM Layer-2 blockchain powered by Consensys, will be the first to upgrade from Bridged USDC Standard to native USDC and gain support for CCTP V2 following its mainnet launch. This upgrade will happen seamlessly, requiring no action from developers or users, and aims to improve liquidity and utility within the Linea ecosystem by transitioning from bridged USDC (USDC.e) to native USDC. Linea, which launched in July 2023, has quickly become the largest zkEVM blockchain by total value secured, boasting over $183 million in Total Value Locked (TVL) and facilitating 250 million transactions. CCTP V2 will enable secure and capital-efficient USDC transfers across blockchains with faster-than-finality settlement, enhancing smart contract composability for post-transfer actions. This transition is expected to reduce liquidity fragmentation and streamline cross-chain experiences, maintaining full usability of bridged USDC during the process, which is projected to take one to two weeks.