Cardano Aims to Launch USDCx Stablecoin by End of February

The Cardano blockchain will integrate USDCx, a variant of Circle’s USDC stablecoin, by the end of February, Philip DiSaro of Anastasia Labs confirmed on February 15. USDCx is dollar-denominated and backed 1:1 by USDC held through Circle’s xReserve. DiSaro said USDCx will function identically to native USDC for retail users, enabling seamless transactions across decentralized applications.

The only material difference lies in redemption mechanics: direct USD redemption to a bank account through Circle is available exclusively to Circle’s institutional partners and not to USDCx holders. The launch is intended to address Cardano’s long-running stablecoin liquidity gap.

DeFiLlama data shows the chain hosts less than $40 million in stablecoin supply, compared with billions on rival networks, and previous attempts to bootstrap liquidity on Cardano largely failed to gain traction.

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