Aleo unveils USDCx: A regulated, privacy-first stablecoin for confidential transactions
Aleo has launched USDCx, a privacy-focused stablecoin backed one-to-one by USDC reserves. The new token integrates with Aleo’s blockchain, offering confidential transactions while maintaining compliance with financial regulations. Developers can now test stablecoin applications on Aleo’s testnet, expanding possibilities for private payments and decentralised finance (DeFi).
The introduction of USDCx comes from a collaboration between Aleo’s core team and the Centre Consortium, which governs USDC. Each USDCx token is fully backed by USDC held in Circle’s xReserve, ensuring transparency and stability. This design allows users to move funds across chains without relying on external bridges or third-party custodians.
USDCx brings a regulated, privacy-focused stablecoin to Aleo’s blockchain, enabling confidential transactions without sacrificing compliance. The integration opens doors for developers to build secure financial services, from private payroll to decentralised trading. With zero-knowledge tools and crosschain compatibility, the system aims to bridge the gap between privacy and regulatory requirements.
Read also:
- India's Agriculture Minister Reviews Sector Progress Amid Heavy Rains, Crop Areas Up
- Cyprus, Kuwait Strengthen Strategic Partnership with Upcoming Ministerial Meeting
- Inspired & Paddy Power Extend Virtual Sports Partnership for UK & Ireland Retail
- South West & South East England: Check & Object to Lorry Operator Licensing Now
