14 Million USDCx on Cardano Minted in One Hour as Mainnet Debut Approaches

It seems that all Cardano supporters may finally get their first major stablecoin on their favorite blockchain soon, as, on Friday, Feb. 27, a multimillion mint, currently totaling 14 million USDCx, was reported by Cexplorer. Given that the stated launch deadline was February and just over one day remains until the end of the month, it can be expected that within the next 36 hours we may see official confirmation of the full USDCx integration on Cardano.

The discussion concerns the integration of $USDC by Circle with Cardano, an agreement on which was signed and announced by Charles Hoskinson at the end of January 2026. The token carries the ticker USDCx.

Why USDCx on Cardano is not a simple $USDC stablecoin

Unlike other $USDC deployments on blockchains such as Solana or Ethereum, $USDC on Cardano will not be native. Hence, the “X” suffix, as the stablecoin here represents a version backed one-to-one by the original $USDC through Circle’s Xreserve infrastructure.

This solution is specifically designed for blockchains that do not use the Ethereum Virtual Machine, such as Cardano.

One of the key features of USDCx on Cardano is its focus on transaction privacy through the use of Zero Knowledge Proof technology, which also distinguishes it from standard versions on other networks. Otherwise, USDCx is expected to function like a regular Circle stablecoin.

It is important to note that direct redemption into fiat dollars via a Circle bank account is available only to institutional clients. Retail users are expected to exchange it on centralized exchanges or via DEXes, where it will be instantly converted into standard $USDC when exiting the network.

Before USDCX, Cardano users relied on USDTM; bridge tokens such as those issued via WanChain that provided wrapped versions of $USDC and $USDT; and DJED, an algorithmic overcollateralized stablecoin.

However, these solutions do not compare to a Circle-issued stablecoin which, in addition to its capitalization — effectively liquidity in the case of a stablecoin — of $75 billion, significantly expands access for Cardano developers and users of the broader global crypto market.