That figure put it at the top of the bridge sector. It also worked out to around one-third of all tracked cross-chain activity during the period.
For a sense of the growth curve, rewind to December 2025. At that point, Circle’s records showed over $126 billion in cumulative volume and more than 6 million transfers across 17 blockchains.
Non-$USDC assets are a newer part of the story. By mid-October 2026, shortly after multi-asset support went live, those other tokens had already passed $100 million in cross-chain volume.
Supported assets now include $USDC, $EURC, cirBTC, and certain third-party tokens.
How burn-and-mint works, and why it matters
On the technical side, CCTP uses a native burn-and-mint mechanism. When a user moves $USDC from one chain to another, the tokens are burned on the source chain and freshly minted on the destination chain.
Many cross-chain bridges rely on wrapped tokens, which are representations of an asset issued on another chain, or on liquidity pools that have to be stocked on both sides of a transfer. CCTP sidesteps both approaches.
The architecture is now getting an upgrade. Circle introduced the CCTP V2 standard in late October 2026, with features including Fast Transfers and Hooks.
Fast Transfers is aimed at speed. Hooks let developers attach additional actions to a transfer, so moving funds across chains can trigger something on arrival rather than ending at a simple deposit.
The legacy V1 version is on its way out. Circle plans to phase it out by December 1, 2026, giving integrators a short runway to migrate.
Background: from $USDC plumbing to multi-asset rail
CCTP started life as infrastructure for $USDC, Circle’s dollar-pegged stablecoin. Over time, the scope widened. $EURC, Circle’s euro-denominated stablecoin, joined the lineup, along with cirBTC and selected third-party tokens once multi-asset support launched in 2026.
The December 2025 snapshot of 17 supported blockchains shows how broad the network had already become before that expansion.
