Coinbase’s USDC Cutoff Date Passes, Yet Circle Still Guides Users to Noble
- Coinbase announced a cutoff for USDC deposits and withdrawals on Noble effective August 17.
- As of August 18, Circle’s guide still instructed users to select Noble as the network for USDC transactions via Coinbase.
- Coinbase warned that funds sent to its Noble deposit addresses post-cutoff may not be recoverable.
- Noble is the native issuance chain for USDC in the Cosmos ecosystem, launched in early 2023.
- Circle reported over $450 million of USDC was circulating on Noble as of March.
The cutoff primarily affects Coinbase’s custodial route, while Noble-native USDC remains operational. Circle is also working on a migration solution as it phases out legacy systems over the next ten months.
Despite the August cutoff, Circle continues to direct users towards using Coinbase for accessing Noble USDC, emphasizing ongoing support and significant circulation figures like the reported $450 million in March. (Source)
