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Stay ahead of the game and make informed decisions with our latest updates on cryptocurrency and blockchain technology. Today, we have exclusive news about Circle’s decision to discontinue USDC support on the Flow blockchain due to an upcoming network upgrade. Let’s dive into the details and find out what this means for you as an investor.
Circle Announces Discontinuation of USDC Support on Flow Blockchain
Jessie A Ellis
Aug 05, 2024 16:39
Circle has announced the discontinuation of USDC support on the Flow blockchain, effective September 3, 2024.
Circle has set a deadline of September 3, 2024, for discontinuing USDC support on the Flow blockchain. The minting of USDC on Flow will continue until August 27, 2024, at noon ET. This decision is in preparation for an upcoming network upgrade.
What Does This Mean for USDC Holders?
If you are a USDC holder on Flow, Circle recommends transferring your tokens to other blockchains before the September 3 deadline. Circle Mint customers, retail USDC holders, and non-Circle customers holding USDC on Flow must take action to avoid any disruptions.
Important Steps to Take
Circle Mint Customers: Transfer your USDC to other blockchains before September 3. If you miss the deadline, engage in the manual redemption process through Circle.
Retail USDC Holders & Non-Circle Customers: Visit Flow’s website for swap options as Circle primarily serves business and institutional customers.
Dapper Wallet Users: Check Dapper’s newsroom for specific instructions on the transfer process.
What Happens After the Deadline?
Circle will provide details for the redemption process on its Help Center starting September 4, 2024. To avoid potential scams, refer to Circle’s official blog and Help Center for accurate information.
Circle’s Future Plans
Even with the discontinuation of USDC support on Flow, Circle remains committed to supporting the Flow ecosystem and its users. The company aims to expand USDC’s reach, ensuring a seamless developer experience and secure user transactions.
For more information, visit Circle’s official website for the full announcement and updates. Stay informed and make smart investment choices with Extreme Investor Network.
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