Gate Lists USDCx Stablecoin to Bridge Canton Network and Global Markets

@Gate has officially opened deposits and withdrawals for $USDCx, the native stablecoin of the @CantonNetwork, giving retail and institutional users on one of the world's largest crypto exchanges their first direct access to the asset.

What Is USDCx?

@Circle's xReserve enables Canton users to mint a compliant USDC-backed dollar stablecoin, $USDCx, for use across the Canton Network. When a user deposits $USDC into xReserve on Ethereum, a mint of $USDCx is initiated on Canton through the protocol. The peg is direct: the token is backed 1:1 by $USDC held inside the xReserve smart contract at all times.

$USDCx on Canton follows the CIP-56 token standard for seamless composability across assets, apps, wallets, and venues, all while preserving privacy. CIP-56 is Canton's token standard, comparable to Ethereum's ERC-20, but designed specifically for regulated financial markets. The standard enables confidential transactions where data is shared only with involved parties, native Delivery-vs-Payment settlement, embedded KYC and AML controls, and deterministic settlement finality within seconds.

Canton is a Layer 1 blockchain purpose-built for financial markets, designed to enable privacy-preserving, interoperable smart contracts that support tokenized real-world assets, atomic settlement, and institutional payments. It connects financial institutions through a network of synchronized, independently governed applications while maintaining data confidentiality.

Gate Sweetens the Deal With a $150,000 Reward Pool

To seed initial liquidity, @Gate is launching a $150,000 reward pool tied to the $USDCx listing. The incentive programme includes a deposit challenge and Simple Earn products aimed at early adopters looking to put the stablecoin to work from day one.

The listing broadens $USDCx's reach beyond its existing institutional footprint. $USDCx is already being used in live capital markets workflows, including on-chain repo settlement. It also enables 1:1 swaps with $USDC across supported chains for unified liquidity. @Gate's integration puts that same asset in front of a much wider audience, potentially accelerating adoption outside traditional financial infrastructure.

Sources:
Canton Network: USDCx Now Live on Canton
Circle: USDCx on Canton Now Available via Circle xReserve
BusinessWire: BitGo Extends Canton Network Infrastructure to CIP-56 Token Standard