-
USDCx brings a USDC-backed stablecoin to Cardano via non-custodial contracts, enabling crosschain transfers without third-party bridges.
-
Early DeFi adoption saw Minswap, Liqwid, and SundaeSwap add trading, lending, and liquidity features using USDCx at launch.
-
Post-launch data shows momentum: TVL rose over 6% in 24 hours, with sharp gains across major Cardano DeFi protocols.
Cardano has connected to Circle xReserve, enabling the launch of USDCx on its mainnet. The integration was confirmed this week through public disclosures from both ecosystems. It introduces a USDC-backed stablecoin on Cardano, allowing developers and users to access crosschain USDC liquidity through onchain infrastructure.
How USDCx Functions on Cardano
USDCx is a dollar-denominated stablecoin issued by a decentralized protocol on Cardano. Notably, it is fully backed by USDC held within Circle xReserve. The system relies on non-custodial smart contracts that manage deposits and minting attestations.
This structure enables verifiable issuance and crosschain transfers without third-party bridges. Furthermore, xReserve operates alongside Circle Gateway and Circle CCTP.
Together, they support interoperability between USDCx and USDC across supported blockchains. As a result, users can move value across networks while remaining within Circle’s infrastructure. This setup supports stablecoin use cases without requiring Ethereum interactions.
Early DeFi Adoption and Application Support
At launch, several Cardano-based applications integrated USDCx. These include Minswap, Liqwid, and SundaeSwap. These platforms support swapping, trading, lending, borrowing, and liquidity provision using the new stablecoin.
In addition, users can deposit USDC from supported centralized exchanges directly into Cardano wallets. This process avoids intermediary blockchains and simplifies access for new participants. Any exchange supporting USDC on Base can transfer funds without extra integrations.
TVL Data Reflects Short-Term Network Growth
Following the USDCx launch, Cardano’s DeFi metrics showed measurable changes. According to DeFiLlama, Cardano’s total value locked rose over 6% in 24 hours to $136 million. The network ranked 27th by TVL during this period.
Notably, Minswap recorded a 17% TVL increase to $36 million. Meanwhile, Liqwid’s TVL rose 4% to $32 million. SundaeSwap posted a 77% jump, reaching $12 million. Over seven days, Cardano’s stablecoin market capitalization also increased more than 28%.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
VVV Token surges 100% in one week, driven by OpenClaw partnership and tightening supply
Venice Token (VVV) has recently surged by over 100%, becoming a strong asset in the market, mainly because Venice has become a provider of the OpenClaw recommendation model and has actively tightened token supply. This partnership has increased Venice's visibility and boosted demand for VVV. In the long term, the fundamentals supporting VVV come from reduced supply and ongoing DeFi integrations, but the sustainability of the market trend still requires monitoring of the partnership results and changes in the market environment.
MarketWhisper33m ago
SANAE TOKEN Collapse! Sanae Tanaka Denies Supporting Political Coins, Issuer Faces Backlash in Japan
Japanese Prime Minister Sanae Takaichi strongly denies involvement in the issuance of the cryptocurrency called SANAE TOKEN, which is promoted in her name and has caused social panic. The latest reports indicate that the coin's price has plummeted by over 50%. The issuer claims that the coin promotes political participation but was not authorized by the government, leading to public condemnation and legal issues. Investors should stay vigilant to avoid financial scams.
CryptoCity59m ago
Tensions in Iran fail to stop capital inflows: Bitcoin ETF attracts $458 million in a single day, BTC nears $68,000
Against the backdrop of tense Middle East tensions, Bitcoin market funds are flowing back significantly. The US spot Bitcoin ETF has attracted approximately $458 million in inflows, with institutional investors continuing to deploy capital, viewing recent volatility as short-term risk. Although the conflict impacts prices, ETF funds and risk hedging provide support for market stability.
GateNews1h ago
SAHARA (Sahara AI) increased by 15.85% in the past 24 hours, with a market capitalization of approximately $84.7 million.
SAHARA (Sahara AI) token recently increased by 15.85%, with a market capitalization of $84.7 million. The platform is the first full-stack AI blockchain, backed by top-tier investments, with over 35 enterprise clients and more than 200,000 AI trainers. The mainnet is scheduled to launch in Q3 2025, providing infrastructure for AI assets and expected to drive market growth.
GateNews1h ago
WAR (WAR) 24-hour increase of 51.50%
Gate News Bot Message, March 3rd, according to CoinMarketCap data, as of press time, WAR (WAR) is currently trading at $0.03, up 51.50% in the past 24 hours, with a high of $0.03 and a low of $0.01. The 24-hour trading volume reached $17.7 million. The current market capitalization is approximately $28.1 million, an increase of about $9.54 million from yesterday.
### WAR recent important news:
1️⃣ **Geopolitical Tensions Rise, Driving Predictive Trading Activity**
The conflict between Iran, the United States, and Israel continues to escalate, sparking global market concern over geopolitical risks. This event has triggered widespread predictive trading activity in the crypto derivatives market, with investors hedging their portfolios by betting on related risk events. Such event-driven trading activities often lead to increased volatility in the related cryptocurrencies.
GateNews3h ago
March 3, 2026 Top Cryptocurrencies Overview, Top Three in Popularity: Bitcoin, Ethereum, XRP
GateNews4h ago
