Key Highlights
- Cronos is launching native USDC, EURC, and CCTP together, becoming the first blockchain to support all three at once.
- Users can deposit dollars, trade assets, and settle everything in USDC, with direct 1:1 backing
- The system enables safer cross-chain transfers through CCTP while gradually replacing bridged USDC (USDC.e) with native USDC.
Circle, the issuer of USDC, is bringing the native stablecoin, alongside EURC, and the Cross-Chain Transfer Protocol (CCTP) to the Cronos network.
In an X post on Monday, Cronos announced the integration. “Native @USDC by @circle is coming to Cronos app. Soon you’ll deposit dollars and trade tokenized stocks, crypto, prediction markets all from one account,” the team wrote.
The move is expected to give users a way to deposit money, trade assets, and move value across different blockchains using stablecoins that are fully backed and issued by Circle.
Why Cronos is adding native USDC now
Native USDC is the main part of this update. It is a stablecoin issued directly by Circle’s regulated partners and backed 1:1 by US dollars. According to Cronos blog post, the firm is being built as a single place where users can do everything in one account.
Now with native USDC, users can deposit dollars directly into the app and start trading right away. They no longer need to repeatedly convert assets or move funds between platforms.
Inside the app, users can trade tokenized stocks, cryptocurrencies, and prediction markets all from the same balance.
Every trade is settled in USDC, which keeps the value stable and tied to the US dollar. The app also gives users up to 10x buying power, which increases how much they can trade with.
CCTP enables cross-chain transfers
A major part of the rollout is CCTP. According to the announcement, this tool allows USDC to move across more than 20 blockchains without using third-party bridges or wrapped tokens.
For builders and institutions, this upgrade creates a strong financial base. Circle Mint allows users to move money directly between banks and USDC. This gives companies a way to bring real-world money into crypto systems. Developers can also build apps for lending, trading, and payments using stablecoins that are backed and regulated. With deeper liquidity in both USD and EUR markets, trading becomes smoother and less costly, especially for large users.
Shift from bridged USDC to native USDC
Cronos currently uses a bridged USDC called USDC.e. This version comes from other chains and is not native to Cronos. With this update, native USDC will slowly replace it. The migration is expected to happen over time, so users will not be forced to change suddenly.
During this period, USDC.e will still work normally and will be clearly labeled so users can tell the difference.
Circle (CRCL) trades near $80
Meanwhile, Circle’s stock has continued to remain in a downtrend. At the time of reporting, CRCL was trading for $79.50, down about 0.69% in the past 24 hours. The drop came from an intraday high of around $85.
According to data from Robinhood, the market cap is currently at $19.79 billion in value, with about $12.86 million in average volume as of today.
Meanwhile, the stablecoin market is booming. According to data from CoinMarketCap, the market has reached about $317 billion in market cap so far, with over $72 billion in volume.
USDC remains the second-largest stablecoin in the market, with $74 billion worth just behind Tether’s USDT, which has over $186 billion.
Also Read: AI Bots Must Pay Up: AWS Activates USDC Monetization for Web Content
