Crypto exchange Kraken said on Thursday that it now supports deposits and withdrawals of USDCx on the Canton network, marking the exchange’s first support for a Canton-native asset.
Kraken described the rollout as “the first step in broader support for the Canton ecosystem” and said more Canton-native assets would follow, though it did not name any additional tokens or provide timelines.
Funding is live. Trading through Kraken App and Instant Buy will only become available once liquidity conditions are met, which Kraken defined as when a sufficient number of buyers and sellers have entered the market for orders to be efficiently matched. Geographic restrictions may apply.
USDCx is a Canton-native stablecoin backed by USDC held in Circle xReserve. When a user deposits USDC into xReserve on Ethereum, an equivalent amount of USDCx is minted on Canton.
Kraken follows other exchanges in supporting USDCx on Canton. Gate enabled deposits and withdrawals of the asset on the network in late May, suggesting growing venue connectivity around the Canton-native stablecoin.
