On February 28, Cardano announced the deployment of the USDCx stablecoin framework in partnership with Circle to integrate the xReserve system, enabling 1:1 minting and redemption mechanisms. This move significantly enhances the US dollar-denominated liquidity on the Cardano chain, even though the total locked value (TVL) remains in a low range.
USDCx is not a native USDC token but a bridged token linked to Circle’s reserves. Users can mint or burn USDCx through cross-chain operations on Ethereum to redeem and transfer liquidity into decentralized trading applications. The first platforms to achieve real-time integration include Minswap, Liqwid, and SundaeSwap, providing practical scenarios for “Cardano stablecoin liquidity growth” and “USDCx cross-chain minting mechanisms.”
On-chain data shows that, so far, the market cap of Cardano stablecoins is approximately $34 million, with a TVL of about $137 million. The growth in stablecoin size contrasts with the low activity in DeFi, as DEX trading volume and network fees remain low, indicating that funds are mostly held in conservative dollar assets and have not yet entered large-scale lending or leverage strategies.
Industry analysts believe that prioritizing the development of “compliant stablecoin infrastructure” will help pave the way for payments, fund management, and institutional-grade DeFi applications. Historically, insufficient stablecoin depth limited Cardano’s ability to support dollar-denominated loans and real-world asset experiments. Now, under the themes of “Cardano DeFi ecosystem revival” and “how USDCx can improve on-chain settlement efficiency,” the network is choosing to first improve underlying liquidity rather than chase short-term gains. Whether TVL can rebound in the future will depend on whether stablecoin funds are converted into actual on-chain demand.
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
TradingBase.AI Column | When Agents Begin to Enter the Financial System: A Signal We Observe in Hong Kong
TradingBase.AI will participate in the Web4.0 Hong Kong event, emphasizing that AI Agents are moving from concept to practical application, especially demonstrating great potential in financial systems. AI Agents are not only execution tools but also capable of understanding the environment, making decisions, and performing continuous tasks. The high-frequency decision-making and rule-based nature of financial markets make them an ideal testing ground for AI Agents. In the future, Web4.0 may establish a new internet collaboration model of "People + AI + Systems." Hong Kong is becoming a key node in this trend.
TechubNews4m ago
Visa partners with Bridge! Enabling direct card payments with stablecoins, expanding crypto payments to 100 countries
Visa announces an expansion of its partnership with Bridge, a subsidiary of Stripe, planning to promote stablecoin cards in over 100 countries by 2026 and to push for on-chain settlement. This initiative will facilitate mainstream adoption of stablecoins and enhance payment convenience. Bridge is also testing the efficiency of blockchain settlement, aiming to transform traditional financial processes. This move reflects how payment giants are accelerating integration with digital currencies.
CryptoCity1h ago
Northern Trust launches tokenized money market share class to officially enter the digital asset space
Northern Trust launches tokenized share classes, marking its entry into the digital asset market. These shares are blockchain "mirror records" of short-term government debt instruments, initially available to investment clients of the New York bank.
GateNews2h ago
Circle: Nanopayments is now live on the testnet, supporting the sending of ultra-small USDC transactions.
PANews March 4 News, stablecoin issuer Circle announced that its ultra-micro payment service "Nanopayments" is now live on the testnet, supporting ultra-micro USDC transactions as low as $0.000001, with zero Gas fees and AI agent support.
GateNews2h ago
Avalanche launches a new funding round based on network usage
Avalanche Foundation launches the $40 million Retro9000 initiative's "C-Chain Round" in March 2026, with scoring based on actual network usage and AVAX burned through transaction fees, offering rewards to the top 40 projects.
TapChiBitcoin3h ago
Pi Network mainnet token supply exceeds 9 billion, with daily 50 million mapped tokens reaching a new high
The total supply of PI tokens on the Pi Network mainnet has exceeded 9 billion, with a daily mapping speed of 50 million. There are 17.7 million KYC-verified users who have completed over 16 million migrations. The KYC verifier reward system is in final testing and is expected to go live by the end of March 2026. Some users remain cautious about the reward timeline; the actual application and ecosystem growth will influence the long-term prospects of Pi Network.
MarketWhisper3h ago
