Circle Launches Native USDC and EURC on Plasma Layer 1

Circle brings dollar and euro tokens to Plasma

Stablecoin issuer Circle has launched native USDC and EURC on the Plasma blockchain. The move adds Circle’s dollar and euro tokens directly to the network, which describes itself as a Layer 1 built for fast, low-cost payments.

Circle also enabled its Cross-Chain Transfer Protocol (CCTP) and Bridge Kit on Plasma. CCTP allows users to move tokens between different blockchains without creating wrapped versions. A wrapped token is a digital asset that represents another token on a different network, often requiring liquidity pools and extra steps. CCTP instead burns tokens on the source chain and mints them on the destination chain.

Initial supply shows low adoption so far

• USDC total supply on Plasma: 4,654,322.74 with six holders.
• EURC total supply on Plasma: 12,866.64 with five holders.
• Circle published mainnet contract addresses on August 28.

Access for institutions and developers

Eligible institutional traders can use fiat on- and off-ramps for USDC payments and settlement. They will also have access to deposit, withdrawal, and API functionality on Plasma.

Regular users can access USDC through Plasma One, the network’s stablecoin app and card. Developers can integrate both USDC and EURC into Plasma applications. Circle says cross-chain transfers using its Bridge Kit can be integrated with roughly 10 lines of code.

Circle expands multi-chain presence

Circle now lists USDC as native on 37 blockchains. EURC is native on eight chains, and CCTP is available on 28 blockchains following this launch.

An Across Protocol guide from July 17 had already reported that the bridge was routing native USDC to Plasma through CCTP. This latest rollout adds official contract listings, EURC support, and Circle’s developer documentation.

Why this matters for stablecoin payments

Plasma aims to simplify stablecoin use by giving developers direct access to Circle’s tokens. This removes the need for wrapped assets, which can introduce complexity and extra costs. Institutions can settle payments and manage treasuries using native USDC and EURC, potentially making cross-chain transactions faster and cheaper.

What is confirmed

Circle has deployed native USDC and EURC on Plasma. CCTP and Bridge Kit are now active. Contract addresses were published on August 28. Current supply data shows very few holders.

What is still unclear

It is not yet clear how quickly adoption will grow on Plasma or whether other major blockchains will follow similar integrations. No timeline has been given for future Circle launches beyond the current ones.

Sources:

• The Defiant