Crypto project Sei issued a warning for holders of the USDC.n stablecoin to swap for “native USDC” ahead of a planned upgrade in March.
USDC.n, also known as USDC via Noble, is a legacy version of the popular USDC stablecoin on the Sei Network originally issued by Circle on the Noble blockchain and bridged to Sei. Until Circle issued USDC natively on Sei, USDC.n served as the main version of the asset on the network.
There is currently about $1.4 million in USDC via Noble on Sei, down from several million, as users continue to swap into Sei’s canonical version of the stablecoin.
In March, Sei is set to push out its significant SIP-3 upgrade to transition exclusively into an EVM-only chain by deprecating its CosmWasm and Cosmos-native assets.
Noble is a Cosmos-backed appchain designed specifically for native asset issuance in the Cosmos/IBC ecosystem. The network acts as an intermediary between stablecoin issuers — including Circle, Hashnote Labs, Monerium, and Ondo Finance — and onramp to get their stablecoins onto Cosmos-based chains.
“After this upgrade, USDC.n may become inaccessible or lose its value on the Sei Network,” Sei wrote.
The project recommended using DragonSwap or Symphony for “smaller volume” conversions. Larger holders were recommended a conversion tool on Brr that batches transactions from Noble to Polygon and “finally back to the Sei Network using Circle’s CCTP.”
Circle Ventures invested an undisclosed amount in the Layer 1 Sei network in late 2023, shortly after forming a partnership with Noble, making it the issuer’s primary asset deployment network for USDC in the Cosmos-verse. Last year, Noble tapped upstart stablecoin project M^0 to power its native USDN dollar-pegged token.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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