Gate Opens USDCx Deposits & Withdrawals on Canton Network

Cryptocurrency exchange Gate has announced support for deposits and withdrawals of USDCx, the native stablecoin of the Canton Network. USDCx maintains a 1:1 peg with USDC through the Circle xReserve smart contract, which operates on the Ethereum network. The asset utilizes the Canton CIP-56 token standard, designed to provide cross-chain interoperability alongside privacy features tailored for institutional requirements. To facilitate this integration, Gate has launched promotional campaigns featuring a $150,000 reward pool in CC, the Canton Network's utility token. The Canton Network, built with the Daml smart contract language, focuses on providing a privacy-preserving public blockchain infrastructure for financial institutions. This development occurs against the backdrop of the GENIUS Act, signed into law in July 2025, which established a federal framework for payment stablecoins. Following these regulatory advancements, the total market capitalization of the stablecoin sector has surpassed $320 billion. Gate's initiative aims to enhance liquidity for Canton ecosystem assets and support the broader evolution of institutional on-chain finance.

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