Movement mainnet launches native stablecoin USDCx

Movement Network announced the official launch of the 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.

According to the introduction, users who cross-chain USDC to Movement will automatically receive USDCx, with all exchanges and transfers verified by the xReserve contract, and reserve assets being transparently traceable on-chain. USDCx also achieves interoperability with USDC across 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.