USDCx
USDCx is a USDC-backed stablecoin on Canton Network, giving Canton applications a dollar-pegged settlement and trading asset.
- Category
- Assets on Canton
- Related terms
- 3
- Glossary size
- 34
- Last reviewed
- 2026-08-10
USDCx explained
USDCx is the dollar of the Canton ecosystem: a stablecoin backed by USDC that brings a dollar-pegged unit onto Canton Network. Each USDCx represents a claim on USDC held in reserve, extending the stability of one of the most widely used fiat-backed stablecoins into Canton's privacy-enabled contract environment.
Its role on a venue like OneSwap is structural. Pools pairing Canton assets against USDCx are what give those assets legible dollar prices; pool-implied USD valuations flow through these pairs. For traders, USDCx is the parking asset between positions, the quote currency for judging moves, and the practical settlement leg for exiting exposure without leaving the ledger.
The standard stablecoin caution applies in AMM contexts: inside a pool, USDCx trades by reserve ratio like any other asset, so a large swap against limited reserves can execute meaningfully away from one dollar even while the peg itself holds. OneSwap's quotes surface that impact for your exact size before you commit, and its market pages report the live reserves behind every USDCx pair.
Entry last reviewed 2026-08-10. Live prices, reserves, and activity belong on the linked market pages, which regenerate every five minutes.
Related terms
- Stablecoin A stablecoin is a token designed to hold a fixed value, typically one US dollar, backed by reserves; on Canton, USDCx fills this role.
- Wrapped asset A wrapped asset is a token on one network representing an asset held in reserve elsewhere, like CBTC standing in for Bitcoin on Canton.
- Canton Network Canton Network is a privacy-enabled public blockchain network built on Daml by Digital Asset, designed for regulated financial applications.