Today marks an important milestone for the Cardano ecosystem.
In collaboration with Circle, Input Output has deployed the technical infrastructure for USDCx on Cardano, bringing dollar-denominated liquidity backed by USDC in Circle xReserve. This integration connects Cardano to Circle’s xReserve infrastructure, introducing a reliable, institution-ready settlement rail designed for real-world use from day one.
We would like to first acknowledge and thank everyone who made this possible! This integration was delivered through the Cardano ecosystem’s Critical Integrations program, funded by the community. Your support has helped bring tier one stablecoin infrastructure to Cardano. We would also like to thank our fellow Pentad members and Midgard Labs for helping build, operate, and secure the USDCx infrastructure.
Why stablecoins matter for Cardano
Stablecoins are the liquid heart of modern digital finance.
They deliver the greater predictability that allows decentralized finance (DeFi) markets to function, real-world assets to settle properly, and global payments to move without volatility risk. While ada remains the decentralized security and settlement asset of the network, stablecoins provide the dollar-denominated stability required for lending, trading, treasury management, and cross-border transactions.
USDC is already the leading institutional stablecoin across global crypto markets. By bringing USDC-backed infrastructure to Cardano with USDCx, we are aligning the network with existing liquidity, compliance standards, and professional financial flows.
Cardano is entering its next phase. Focused on mature, real-world financial utility.
What is available at launch
USDCx is a dollar-denominated stablecoin deployed on Cardano and backed 1:1 by USDC held in Circle xReserve.
For the first 10 days, IOG will subsidize bridge fees for USDCx transfers to Cardano to help you get started with lower costs, with all other network and DEX fees remaining the responsibility of the user – see the FAQs for more details.
As a native token on the Cardano blockchain, USDCx is linked to USDC held in the xReserve smart contract and designed to deliver seamless 1:1 utility and liquidity within the ecosystem. Users will have access to a dedicated USDCx Bridge web application that enables them to:
- Deposit USDC into the xReserve smart contract on Ethereum and mint the equivalent amount of USDCx on Cardano
- Burn USDCx on Cardano to release the equivalent amount of USDC on Ethereum
- Deposit USDC into the xReserve smart contract on Ethereum, and automatically swap a portion of that to any Cardano native asset (CNA) via supported direct DEX integrations (currently Minswap)
- Withdraw or deposit USDC directly on any supported centralized exchange into USDCx in your Cardano wallet without needing to interact with Ethereum
- If a centralized exchange supports USDC on Base, one can both deposit and withdraw USDCx without any intermediary steps or third-party services.
Top participants using USDCx on day one include:
Importantly, this is not a standalone stablecoin deployment. USDCx launches with real integrations and observable on-chain activity, ensuring it is usable from day one.
Powering new use cases
By connecting Cardano to Circle’s stablecoin infrastructure, USDCx opens the door to a wide range of on-chain use cases:
- DeFi: strengthening lending and borrowing, supporting more stable yields, and expanding liquidity across the ecosystem
- Payments: seamless settlement across chains and borders, connected to liquidity across USDC’s supported global blockchain networks
- Dollar pricing: enabling support for dollar-denominated pricing inside applications and on-chain platforms
- Inflation hedge: access to dollar-denominated value in regions facing local currency instability
- Institutional adoption: regulatory alignment and compliance standards that reduce barriers to enterprise participation.
This infrastructure is designed to drive real economic activity, with an impact that is visible and measurable on-chain.
Advancing the next phase of growth for Cardano
With USDCx live, Cardano strengthens the foundations for its next phase of growth.
DeFi foundations
Stablecoin liquidity deepens trading markets, supports professional market making, and brings greater predictability to lending and borrowing.
Real-world assets
Tokenized securities, treasury products, and credit instruments require stable settlement. USDCx provides the dollar backbone these applications can rely on.
Global payments
Stablecoins enable fast, low-cost cross-border payments and remittances. For users in emerging markets, access to dollar-denominated value can be transformative.
This integration strengthens Cardano’s position as infrastructure built for resilience, reliability, and real-world adoption
Evolving together
USDCx is not a short-term initiative. It is an ecosystem-level upgrade to Cardano’s financial rails.
The rollout prioritizes real integrations, visible usage, and long-term reliability. As apps, liquidity providers, and enterprise participants integrate USDCx, progress will be measurable on-chain.
This is how ecosystems evolve, step by step, through credible infrastructure and community-backed delivery.
Thank you!
To the Cardano community: thank you for funding this integration and supporting the ecosystem’s growth.
USDCx on Cardano is now live, usable, and ready to power the next wave of DeFi, payments, and real-world applications.
This is not just a launch. It is the beginning of a financial layer that will grow in depth and capability as the ecosystem builds on it together.
