SAN FRANCISCO, March 25, 2026 (GLOBE NEWSWIRE) — Move Industries, the core contributor of the Movement Network today announced the launch of USDCx, a new stablecoin natively issued on Movement’s M1 Mainnet and fully backed 1:1 by USDC.
Unlike traditional bridged stablecoins, which rely on third-party services that fragment liquidity and introduce security risk, USDCx on Movement is a dollar-denominated stablecoin fully backed by USDC held in the Circle xReserve smart contract, with reserves held transparently onchain. For consumers in the Global South, USDCx on Movement offers a near-zero-fee stablecoin solution for everyday payments, remittances, and financial access.
“The Global South doesn’t need another promise, it needs infrastructure that works,” said Torab Torabi, CEO, Move Industries. “USDCx on Movement is exactly that: a USDC-backed stablecoin, live on a chain, built for security, speed, and cost. This is what financial empowerment looks like in practice.”
USDCx is powered by Circle xReserve, a Circle-deployed smart contract that holds USDC as a reserve. Users can mint USDCx on Movement without relying on any third-party bridge. Transfers between USDCx and USDC are verified by xReserve, and USDCx on Movement is fully interoperable with USDC across 30+ blockchains via Circle CCTP and Circle Gateway.
This makes USDCx economically viable for real-world use at global scale in a way bridged stablecoins never could be.
USDCx launches with deep ecosystem integration across DeFi, wallets, and institutional infrastructure. Day one partners already live with USDCx on Movement include Avalon Labs (CDP), Canopy (yield aggregator) Meridian (DEX), Echelon Market (lending), MovePosition (lending), LayerBank (lending), Matrix.fun (gaming), Double Up (wagerFi), Yuzu (DEX), Mosaic (Aggregator) Nightly (wallet), Fireblocks (institutional token management) and MPC Vault (institutional crypto custody).
Built for Real Use
USDCx on Movement is designed for the use cases where stablecoins can make a lasting impact:
- DeFi Liquidity: Native stablecoin for DEXs, lending protocols, and DeFi on Movement. No bridge dependencies, with $MOVE token rewards to bootstrap liquidity pools.
- Remittances and Cross-Border Payments: Near-zero-fee stablecoin transfers for Global South users offering a direct, lower-cost alternative to existing remittance corridors.
- Neobank and Fintech Infrastructure: USDCx gives Movement’s emerging neobanks and fintech partners like KAST access to institutional-grade opportunities enabling a new class of stablecoin-native financial products built on Movement’s rails.
- Crosschain Liquidity: USDCx connects to USDC across 30+ chains via Circle Gateway and CCTP, giving developers and users ecosystem-wide liquidity from day one.
ABOUT MOVE INDUSTRIES
Move Industries is building a community-first Move-based blockchain ecosystem. Led by a team of industry veterans, Move Industries maintains a dual focus on technology and community. The organization intends to return to crypto’s radical roots: giving financial power and opportunity back to the people. For more information about Movement’s M1 Mainnet, visit MovementNetwork.xyz and follow @Movement_xyz on X.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/28566a1b-c892-449d-b92d-02c15aab2e3b
