Circle has launched USDCx on the Canton Network, a privacy-focused blockchain designed for institutional assets. USDCx is a dollar-denominated stablecoin created by a decentralized protocol on Canton. When a user deposits USDC into xReserve on Ethereum, a mint of USDCx is initiated on Canton through the protocol.

The integration allows businesses and financial institutions to perform seamless atomic settlement of tokenized assets and conduct privacy-preserving payments within the Canton ecosystem. Canton is the first blockchain to go live with a stablecoin issued via Circle xReserve.

This development signals a strategic push to bridge traditional financial infrastructure with blockchain technology. By providing a compliant, programmable dollar within a private and interoperable network, Circle is positioning its stablecoin infrastructure as a core component for the growing tokenized asset market, specifically targeting institutional-grade financial applications. The launch highlights a trend towards creating sophisticated, configurable stablecoin solutions for B2B and institutional finance.

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https://www.Circle.com/blog/usdcx-on-canton-now-available-via-circle-xreserve