Cardano is now related to Circle xReserve, enabling the launch of USDCx on the community and offering builders and customers with a USDC-backed stablecoin that unlocks entry to crosschain USDC liquidity.
USDCx on Cardano is a dollar-denominated stablecoin issued by a decentralized protocol and absolutely backed by USDC held in Circle xReserve. The interoperability infrastructure operates by means of a non-custodial good contract that holds reserves and gives deposit and minting attestations, guaranteeing safe and verifiable asset issuance in addition to crosschain transfers.
xReserve works in tandem with Circle Gateway and Circle’s Cross-Chain Switch Protocol (CCTP), permitting USDCx to interoperate with USDC throughout supported blockchains with out relying on third-party bridges.
With the combination, builders can leverage USDCx for DeFi lending and borrowing with secure liquidity, extra environment friendly buying and selling pairs on Cardano-based DEXs, cross-border funds with compliance-focused infrastructure, and real-world asset (RWA) settlement together with tokenized actual property and credit score merchandise.
At launch, USDCx is supported by Cardano functions resembling Liqwid, Minswap, and SundaeSwap, enabling swapping, buying and selling, lending, borrowing, liquidity provision, and staking inside the ecosystem.
Customers can deposit USDC from supported centralized exchanges straight into Cardano wallets with out interacting with Ethereum or different blockchains. Exchanges supporting USDC on Base can seamlessly switch USDCx with out middleman steps.
Supply: Official Cardano and Circle integration announcement
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