USDCx on Cardano Now Available via Circle xReserve

We’re excited to share that Cardano is now connected to Circle xReserve. Through this integration, USDCx on Cardano is now available, providing a USDC-backed stablecoin to Cardano developers and users that enables access to crosschain USDC liquidity.

About Cardano

Cardano is a layer-1 (L1) Proof-of-Stake (PoS) blockchain built on peer-reviewed academic research. Launched in 2017, it uses dual-layer blockchain architecture and offers predictable transaction fees via its eUTXO model. Prioritizing security and sustainability, Cardano supports scalable smart contracts for DeFi apps and promotes global adoption for enterprises, governments, and users, especially in emerging markets.

What is USDCx?

USDCx on Cardano is a dollar-denominated stablecoin issued by a decentralized protocol on Cardano, fully backed by USDC held in Circle xReserve. This interoperability infrastructure holds funds in a non-custodial smart contract and provides deposit and minting attestations for USDCx on Cardano, enabling secure and verifiable asset issuance and crosschain transfers.

xReserve works in tandem with Circle Gateway and Circle CCTP to make USDCx interoperable with USDC across supported blockchains, without reliance on third-party bridges.

USDCx on Cardano

Token Name: USDCx

Token Symbol: USDCx

Mainnet address: asset1e7eewpjw8ua3f2gpfx7y34ww9vjl63hayn80kl

Testnet address: asset1ejelsh8crza8dyghxzsjhkjqutzr7q3dnregng

Powering new use cases

With Cardano’s connection to xReserve, developers and institutions can explore, expand, and optimize powerful new onchain USDCx use cases.

DeFi lending and borrowing with stable liquidity

USDCx brings dollar-backed stability to Cardano’s lending markets. Protocols can offer secure collateral and build multi-asset pools, while reducing the risk typically associated with more volatile crypto assets.

More efficient trading and swaps

As a dollar-denominated asset, USDCx supports deeper liquidity and more efficient trading pairs across Cardano-based DEXs. Users can trade, swap, and provide liquidity with greater confidence, helping fuel a more stable and capital-efficient DeFi ecosystem.

Global payments, built for compliance

USDCx enables fast, cross-border payments and settlement on Cardano. Fintechs and institutions can leverage Circle’s global network, enterprise-grade security, and compliance-first infrastructure along with fiat on/offramps to build payment and treasury solutions.

Real-world asset (RWA) settlement

USDCx provides dollar-based settlement for tokenized real-world assets (RWAs) such as real estate, credit products, and other financial instruments. This strengthens the foundation for Cardano’s growing RWA ecosystem and supports institutional-grade use cases.

Top apps and participants using USDCx on Cardano 

At launch, USDCx is supported by Cardano apps like Liqwid, Minswap, and SundaeSwap. These DeFi apps enable features such as swapping, trading, lending, borrowing, liquidity provision, and staking on the Cardano blockchain.

Get started today

With the USDCx on Cardano integration, you can directly deposit USDC on any supported centralized exchange (CEX) into your Cardano wallet without needing to interact with Ethereum or another blockchain. Any CEX that supports USDC on Base can seamlessly transfer USDCx without requiring intermediary steps or third-party integrations.

To learn more about how USDCx on Cardano works, check out our xReserve documentation. To get started, check out Cardano’s bridging solution to transfer USDC from supported blockchains to USDCx on Cardano.