Circle starts winding down CCTP V1 ahead of the December 1 USDC bridge pause

Circle began reducing capacity in its legacy Cross-Chain Transfer Protocol V1 on October 31, with the system scheduled to stop on December 1, 2026. The protocol moves USDC between blockchains by burning the stablecoin on one chain and minting it on another, subject to burn limits and Circle approvals called attestations. Starting October 31, Circle is lowering those burn limits over about a month, so applications still using V1 have until the December 1 stop to move to CCTP V2 or lose crosschain transfers. Circle first announced the migration from V1 on November 14, 2025, and says all V1 chains except Noble already use V2.