- Circle is bringing native USDC and EURC to Cronos with 1:1 redemption, full reserve backing, and MiCA compliance features.
- CCTP integration will enable direct cross-chain USDC transfers on Cronos without third-party bridges.
- Cronos plans to migrate from bridged USDC to native tokens, expanding use in DeFi, payments, and trading apps.
Circle announced that native USDC, EURC, and CCTP support will soon launch on Cronos, bringing stablecoin infrastructure to the Layer-1 blockchain. The integration will support payments, trading, DeFi, prediction markets, treasury management, and agent-based workflows. Circle and Cronos are working on the rollout, with testing already available for developers.
Circle Expands Stablecoin Access On Cronos
According to Circle, native USDC and EURC on Cronos will provide direct redemption at a 1:1 ratio for USD and EUR. The stablecoins will also offer full reserve backing and MiCA compliance features.
Cronos, a Crypto.com-developed EVM-compatible Layer-1 blockchain, supports applications across payments, AI-focused workflows, and DeFi trading. Notably, native USDC will serve as a dollar settlement option for the Cronos app.
The Cronos app allows users to access tokenized stocks, cryptocurrency trading, and prediction markets from one account. With native USDC, users will be able to deposit dollars and trade across these markets.
CCTP Brings Crosschain USDC Transfers
Circle said its Cross-Chain Transfer Protocol, known as CCTP, will allow users to move native USDC between supported blockchains. The process does not require third-party bridges for transfers.
However, CCTP access will focus on eligible institutional traders and teams. These users can access fiat onramps, offramps, deposits, withdrawals, and API connectivity for native USDC on Cronos.
Additionally, Circle said native USDC and EURC can support dollar and euro-based markets on Cronos. The assets can serve as collateral and settlement tools for DeFi applications and agent-to-agent transactions.
Cronos Prepares Migration From Bridged USDC
Cronos currently supports bridged USDC, known as USDC.e. According to Circle, the Cronos team plans to work with applications and protocols to migrate liquidity toward native USDC.
Meanwhile, existing bridged USDC will continue operating normally. Circle said USDC.e will remain labeled separately across block explorers, interfaces, and documentation.
Developers can now test fund flows on Cronos using free testnet USDC and EURC from Circle’s Faucet. Circle said more details about the integrations will be released as the launch date approaches.
