Tony Kim
Dec 04, 2025 15:02
Circle launches USDCx on Canton via xReserve, enabling seamless USDC interoperability across multiple blockchains, enhancing privacy and settlement efficiency.
Circle has announced the launch of USDCx on the Canton blockchain, utilizing Circle xReserve to facilitate secure interoperability with USDC across supported blockchains, according to Circle. This integration marks a significant step in expanding the capabilities of USDC, a leading dollar-backed stablecoin, by providing developers and users with enhanced access to cross-chain USDC liquidity.
Understanding Canton and USDCx
Canton is a Layer 1 blockchain specifically designed for financial markets. It supports privacy-preserving, interoperable smart contracts that facilitate the tokenization of real-world assets, atomic settlement, and institutional payments. Canton aims to maintain compliance and scalability while ensuring data confidentiality across its network of synchronized, independently governed applications.
USDCx is a stablecoin backed by USDC, created on the Canton blockchain. The process begins when a user deposits USDC into xReserve on Ethereum, which triggers the minting of USDCx on Canton. This mechanism allows USDCx to function seamlessly with USDC across various blockchains without depending on third-party bridges.
New Use Cases and Applications
The connection between Canton and xReserve opens up new opportunities for developers and financial institutions. Key use cases include:
- Atomic Settlement of Tokenized Assets: Canton’s infrastructure allows for the instant settlement of tokenized real-world assets like bonds and loans against a fully backed stablecoin, reducing counterparty risk and improving capital efficiency.
- Privacy-Preserving Payments: The architecture of Canton supports confidential transactions, enabling institutions to conduct privacy-preserving payments while adhering to compliance workflows and requirements.
- Interoperable Onchain Cash for Multi-Party Workflows: USDCx’s interoperability with USDC across over 20 blockchains facilitates Canton’s role as a hub for multi-party workflows, supporting cross-border transfers and institutional liquidity routing.
Adoption and Ecosystem Participation
USDCx on Canton has seen immediate adoption and on-chain activity from several notable participants, including Bron, Cantor8, CertiK, Cumberland DRW, Dfns, Digital Asset, G20, Hydra X, IMC Trading, Loop, QCP, Send on Canton Network, and Temple. These participants are leveraging the capabilities of USDCx to enhance their blockchain operations.
For more information about USDCx on Canton and to explore xReserve’s documentation, interested parties are encouraged to visit the official Canton network site.
Image source: Shutterstock
Source: https://blockchain.news/news/circle-introduces-usdcx-on-canton-for-enhanced-blockchain-interoperability
