Key Highlights
- Circle has confirmed that USDC and CCTP are coming to Pharos, an EVM-compatible L1 focused on regulated financial applications.
- Pharos is currently on testnet, with a public mainnet launch pending; developers can already access testnet USDC via Circle’s faucet.
- Pharos has also announced a $10 million incubator program for DeFi builders, with an emphasis on USDC-based projects.
Circle has announced that USDC and its Cross-Chain Transfer Protocol (CCTP) are heading to Pharos, an EVM-compatible layer-1 blockchain built around compliant financial infrastructure.Â
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The integration has no confirmed mainnet date yet, but testnet access is already live. Developers can start experimenting with USDC on Pharos today using Circle’s testnet faucet, with the testnet contract deployed at 0xcfc8330f4bcab529c625d12781b1c19466a9fc8b.
What is Pharos
Pharos is a layer-1 blockchain designed for regulated financial use cases, including tokenized real-world assets (RWAs), compliant DeFi, and stablecoin-based payments. The network runs parallel execution across both EVM and WASM environments and is built for sub-second finality and high throughput, targeting institutional and compliance-aware applications.
The chain completed a private testnet phase last year and is now preparing for a public mainnet release, though a specific date has not been announced. Its architecture is designed with regulatory alignment as a core consideration, not an afterthought, which has been a selling point for its positioning in APAC-focused financial markets.
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How USDC and CCTP fit in
On Pharos, USDC is expected to function as the primary settlement and collateral asset across the ecosystem. That covers trading, payments, and onchain liquidity management, along with serving as the dollar-denominated layer for tokenized instruments like private credit, commodities, and treasuries.
CCTP adds the cross-chain layer. Rather than relying on third-party bridges or wrapped token variants, CCTP allows native USDC to move directly between Pharos and other supported blockchains. Users get two transfer options, Standard and Fast, depending on their speed and cost preference. For institutions and payment providers, this also simplifies reconciliation since there are no intermediary token representations to account for.
The incubator program
Alongside the Circle announcement, Pharos has launched a $10 million incubator program targeting DeFi builders. The program focuses specifically on applications and infrastructure built around USDC, and offers funding, mentorship, and technical resources. It is aimed at accelerating early ecosystem development ahead of the mainnet launch.
Where USDC stands right now
USDC ended 2025 with a circulating supply of $75.3 billion, a 72% increase year over year. It is currently issued natively across more than 30 blockchains. Pharos would extend that reach further into RWA-focused and compliance-oriented infrastructure, a segment that has been growing as institutional interest in onchain finance increases.
The mainnet contract address for USDC on Pharos has not been published yet. Circle has said it will be shared closer to the mainnet launch.
Also Read: Tazapay Secures $36M in Series B Funding Backed by Circle Ventures
