According to BlockBeats, Circle has announced that it will cease support for USDC on the Flow (Cadence) blockchain due to an upcoming network upgrade. The termination will take effect on September 3, 2024, at 3:00 AM Eastern Time (ET). Until then, USDC minting on Flow will continue until August 27, 2024, at noon ET.

Circle advises Circle Mint customers, retail USDC holders, and non-Circle customers holding USDC on Flow to transfer their USDC to other blockchains before the September 3 deadline. On the deadline day, Circle will freeze the remaining USDC on Flow, take a snapshot of all USDC balances on the blockchain, and manually process any remaining redemption requests based on the snapshot. The manual redemption process will commence on September 4, 2024.

To be eligible for redemption, USDC holders on Flow must meet Circle's compliance and security requirements, store USDC in a wallet controlled by the holder, and ensure their wallet address is included in the USDC on Flow snapshot.