Circle, via its xReserve platform, has launched USDCx on the Canton Network, a new stablecoin designed with programmable privacy and composability for institutional use cases.

USDCx enables users to integrate and transact with apps and services across the Canton ecosystem, ensuring that digital dollar flows maintain the privacy, control, and atomic settlement demanded by global enterprises and financial institutions. Leveraging the Canton Token Standard (CIP-56), the stablecoin facilitates connectivity between assets, applications, and venues, paving the way for scalable digital-dollar rails that combine granular privacy with broad interoperability.

Key applications include 24/7 atomic settlement of tokenized real-world assets (RWAs), intraday and out-of-hours financing, and privacy-enabled global business-to-business (B2B) payments conducted on-chain. By blending the liquidity and convenience of USDC with Canton's privacy features, USDCx aims to eliminate exposure and reconciliation risks in 24/7 markets, where assets and cash can move in tandem.

The rollout follows rigorous testing through transactions on Canton in collaboration with major players such as DRW, Virtu, Citadel, Tradeweb, and Digital Asset. These out-of-hours financing trades, executed on Tradeweb and settled on Canton, highlighted the network's privacy properties and helped refine the xReserve system.

At launch, a roster of applications and participants are already supporting USDCx, including Bron, Cantor8, CertiK, Cumberland DRW, Dfns, Digital Asset, G20, Hydra X, IMC Trading, Loop, QCP, Send, and Temple. This ecosystem underscores Canton's positioning as a liquidity hub for capital markets.

Read More:
https://www.canton.network/blog/usdcx-now-live-on-canton-unlocking-private-and-composable-usdc-backed-settlement