On Polygon there are two tokens called USDC. USDC is native: Circle issues it directly on Polygon PoS. USDC.e is the older bridged version: it is created by the Polygon bridge against USDC locked on Ethereum, and Circle doesn't issue it. Both are meant to be worth a dollar, and both can sit at the same 0x address. But they are separate contracts, so wallets, exchanges and payment services can treat them differently.
For a merchant this matters in two places: which token your payouts arrive in, and whether the place you send them to credits both.
The difference at a glance#
| USDC (native) | USDC.e (bridged) | |
|---|---|---|
| Issued by | Circle, directly on Polygon PoS | The Polygon PoS bridge, against USDC locked on Ethereum |
| Contract on Polygon | 0x3c499c542cEF5E3811e1192ce70d8cC03d5c3359 | 0x2791Bca1f2de4661ED88A30C99A7a9449Aa84174 |
| Redeem with Circle | Yes, for Circle's customers | No. It can be bridged back to USDC on Ethereum. |
| Where you'll see it | New wallets, exchanges and payment services | Older apps and balances, and some exchanges' deposit systems |
Circle's own Polygon page says it plainly: "Bridged forms of USDC, such as USDC.e, are not issued by Circle." Polygon's developer docs use the native contract and label the other one "the old bridged USDC.e".
Why merchants should care#
- Exchanges may credit only one. A deposit address that accepts "USDC on Polygon" may mean the native token only. If USDC.e arrives instead, recovery depends on the exchange.
- Wallets may show both as "USDC". Check the contract address, not the name, when you reconcile.
- They aren't interchangeable on the spot. To turn USDC.e into USDC you swap it or bridge it, which costs a fee or a spread.
Which one you receive from Caravel Pay#
- Card, Apple Pay and Google Pay payments arrive as native USDC.
- Buyers who pay in crypto directly can send USDC, USDC.e or POL on Polygon. You're paid out in the token they sent, minus the 2% Caravel fee.
- Caravel Pay never swaps. If a buyer pays in USDC.e, you receive USDC.e. You get exactly what was paid minus the 2% Caravel fee, with no swap spread or slippage taken from it.
The payout object says which token was sent: payout.asset is "USDC", "USDC.e" or "POL", with the transaction hash beside it. If a buyer pays part in USDC and part in USDC.e, each part goes out as its own transfer and the checkout lists both in payouts. In WooCommerce, the order note shows the token too.
Using an exchange address for payouts? Only do it if that exchange accepts USDC, USDC.e and POL on the Polygon network at that address. On-chain transfers can't be reversed. A self-custody wallet receives all three without any setup; see choosing a payout wallet.
How to tell which one you hold#
- Look up the transaction on a Polygon block explorer using the payout's transaction hash. The token transfer line shows the contract.
- Compare the contract with the two addresses in the table above.
0x3c49…3359is native USDC;0x2791…4174is USDC.e. - In MetaMask or Rabby, if a token doesn't show up, add it by its contract address. Both can sit in the same account.
If you'd rather hold only native USDC#
You can swap USDC.e for USDC yourself, in a wallet or on an exchange that supports both. Check the rate and the fee before you swap. You'll need a little POL in your wallet to pay the Polygon network fee for the swap.
Frequently asked questions#
What is USDC.e on Polygon?#
The bridged version of USDC. The Polygon PoS bridge creates it against USDC locked on Ethereum. Circle does not issue it. Its contract is 0x2791Bca1f2de4661ED88A30C99A7a9449Aa84174.
Is USDC.e the same as USDC?#
No. Both aim to be worth one dollar, but they are different tokens with different issuers and contracts. Native USDC on Polygon is 0x3c499c542cEF5E3811e1192ce70d8cC03d5c3359.
Can I send USDC.e to a USDC address?#
On Polygon, any address can hold both, so a self-custody wallet receives either. An exchange deposit address may only credit one of them. Check the exchange's deposit page first.
Which USDC do card payments arrive in?#
With Caravel Pay, native USDC on Polygon.
Does Caravel Pay convert USDC.e to USDC?#
No. Payouts arrive in the token the buyer paid with, never swapped.
Sources#
- Circle: USDC on Polygon PoS ("Bridged forms of USDC, such as USDC.e, are not issued by Circle"), checked 2026-11-09.
- Circle: USDC contract addresses (Polygon PoS native USDC), checked 2026-11-09.
- Polygon docs: transfer USDC (native contract, "NOT the old bridged USDC.e"), checked 2026-11-09.
- Wharton Crypto Insights: USDC on Polygon (USDC.e minted by the Polygon bridge; not redeemable with Circle; redeemable for Ethereum USDC through the bridge), checked 2026-11-09.
- Caravel Pay docs: accepted tokens (contract addresses, no-swap rule).