Circle, the issuer of USD Coin (USDC), has warned users not to deposit XCM-transferred USDC from non-Polkadot Asset Hub parachains. The company recently launched USDC on the Polkadot network, allowing developers and users to transfer the stablecoin to parachains in Polkadot via the XCM protocol. However, Circle emphasized that its Circle Account and Circle APIs only support Polkadot USDC natively issued on Polkadot Asset Hub. Users must transfer USDC from their Circle Account to an external Polkadot Asset Hub wallet address before using XCM. Attempting to deposit XCM-transferred USDC from a non-Polkadot Asset Hub parachain to a Circle Account could result in a loss of funds. With the addition of Polkadot, USDC now supports a total of 14 blockchain networks. Polkadot is a network of multiple independent blockchains that operate in parallel to enable faster transactions.
