Profile
USDCx profile facts
Movement USDCx (USDCx) static profile: governance model CeFi-Dependent; backing model Real-World Asset Backed; peg US Dollar.
- Collateral
- 1:1 USDC held in a Circle-deployed xReserve smart contract; the underlying reserve is Circle USDC, whose backing is short-duration U.S. Treasuries and cash held by regulated custodians.
- Peg mechanism
- Users mint USDCx on Movement by depositing USDC into Circle's xReserve smart contract, which issues USDCx 1:1; redemption burns USDCx and releases the underlying USDC back to the user. xReserve also enables 1:1 transfers between USDCx and USDC across supported chains via Circle CCTP and Gateway without third-party bridges.
- Jurisdiction
- Not disclosed in the static profile.
- Proof of reserves
- No proof-of-reserves entry in the static profile.
- Contracts
- 1 deployment tracked across Movement.
Source: Pharos registry profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier on this page.
USDCx quick answers
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What is Movement USDCx (USDCx)?
USDCx is Movement's native USDC-backed dollar issued 1:1 via Circle's xReserve smart contract, with CCTP/Gateway transfers to and from USDC on other chains. The static profile records its US Dollar peg mechanism as: Users mint USDCx on Movement by depositing USDC into Circle's xReserve smart contract, which issues USDCx 1:1; redemption burns USDCx and releases the underlying USDC back to the user. xReserve also enables 1:1 transfers between USDCx and USDC across supported chains via Circle CCTP and Gateway without third-party bridges.
Is USDCx safe?
As of Nov 8, 2026, Pharos grades USDCx C+ (63/100) on its Safety Score. Pharos's reviews record that admin controls such as a pause or an upgradeable contract exist, though no power to freeze a specific holder was found, and any holder can use its reviewed redemption route. That is a middle-band grade: it meets baseline expectations but carries meaningful weaknesses. The grade moves as reserve, redemption, peg and control evidence changes; the live Safety Score on this page shows the current reading.
What backs USDCx?
Pharos records USDCx's reserves as of Jul 14, 2026 as 100% Circle USDC held in xReserve smart contract. Reserve evidence: live reserve feed configured. Pharos classifies the backing as Real-World Asset Backed.
Can USDCx be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, admin controls such as a global pause or an upgradeable contract are recorded, but the review found no active power to freeze or seize a specific holder's balance on material deployments.
How do you redeem USDCx?
Under the route Pharos reviewed on Aug 12, 2026, any holder can redeem USDCx for USDC. Requests go through a redemption queue. The reviewed redemption fee ranges from 0% to 0.02%. Whether a given holder qualifies is set by the route's own terms, not by this summary.
