Movement launches native stablecoin USDCx

According to official news, Movement Network announced the official launch of its native stablecoin USDCx on the mainnet. This stablecoin is supported by the Circlex Reserve protocol, pegged 1:1 to USDC, with near-zero fees and no reliance on third-party cross-chain bridges.

It is introduced that users can automatically obtain USDCx when they cross-chain USDC to Movement. All exchanges and transfers are verified by the xReserve contract, and the reserve assets are transparently traceable on-chain. USDCx also achieves interoperability with USDC on more than 30 public chains through Circle CCTP and Gateway, providing cross-ecosystem liquidity.

USDCx is positioned for large-scale user application scenarios, including DeFi liquidity (providing native stablecoins for DEX and lending protocols), cross-border payments and remittances (reducing transfer costs in emerging markets), as well as the construction of new digital banking and fintech infrastructure.