@Circle has deployed its Cross-Chain Transfer Protocol V2 (CCTP V2) on @SuiNetwork, bringing native $USDC routing to the Move-native Layer-1 blockchain. The integration means $USDC can now mo
@Circle has deployed its Cross-Chain Transfer Protocol V2 (CCTP V2) on @SuiNetwork, bringing native $USDC routing to the Move-native Layer-1 blockchain. The integration means $USDC can now move between Sui and 29 other supported blockchains without relying on third-party bridges or wrapped token representations.
CCTP V2 operates on a burn-and-mint model. It works by burning USDC on the source chain, having Circle's off-chain Iris attestation service sign the burn message, and minting fresh native USDC on the destination chain.There is no wrapped representation, no liquidity pool, and no third-party bridge custodian. On Sui specifically, the minting rights are held by Circle, and the native USDC supply on Sui comes directly from the issuer.
The new version also introduces several developer-focused capabilities. CCTP V2's Fast Transfer enables cross-chain transactions to settle in seconds, while Hooks allow developers to automate post-transfer actions on the destination blockchain with deeper smart contract integrations. According to Circle's official press release, the protocol reduces transaction settlement time to seconds compared to an average of 13 to 19 minutes for a typical blockchain transaction from Ethereum and its Layer 2 blockchains.
The deployment removes a structural constraint that has limited dollar liquidity on $SUI-based DeFi protocols. By eliminating the need for external bridging tools, developers can access institutional-grade USDC liquidity directly. Developers can now build on-chain payment and treasury tools directly on Sui without designing around bridge dependencies or fragmented liquidity pools.
CCTP V2 also introduces Hooks, an additional feature that allows developers to automate post-transfer actions on the destination blockchain, unlocking new possibilities for seamless, programmable cross-chain experiences. This makes Sui a more composable environment for protocols that require complex, multi-step cross-chain logic.
The Sui integration continues a broader rollout of CCTP V2 across the industry. Since CCTP V2 launched on Avalanche, Base, and Ethereum in March 2025, the protocol has expanded to 13 or more mainnet chains and added Fast Transfer settlement in roughly 8 to 20 seconds, programmable post-transfer hooks, and Solana support.
Sources:Circle Press Release: CCTP V2 LaunchCoinDesk: Circle Upgrades Cross-Chain Transfer ProtocolCircle Blog: CCTP V2, The Future of Cross-Chain
