Key Insights:
- In the latest Cardano news, the platform signs a deal with Circle for USDC integration.
- Pentad is holding strong in tough negotiations in the Cardao-Circle deal, hinting at a major announcement.
- Midnight joins forces with Spacecoin to create a peer-to-peer (P2P) messaging platform.
Cardano founder Charles Hoskinson confirmed an integration with stablecoin provider Circle. According to the Cardano news, the integration agreement is for Circle’sUSDCx on the Cardano blockchain.
The Cardano founder also announced a Circle and Pentad collaboration. Alongside these updates, Cardano Midnight announced a partnership with Spacecoin.
Cardano News in Focus as USDC Gears Up for Debut
“Hello from Japan. Just signed the integration agreement for USDCx on Cardano,” Hoskinson wrote on X.
The Cardano founder expressed excitement that USDC is finally coming to Cardano. As per the Cardano news, he is also hopeful about the possibilities that the integration would bring for the network.
USDCx is the wrapped or enhanced version of USDC, the native base stablecoin from Circle. It unlocks advanced Decentralized Finance (DeFi) features like real-time streaming payments.
The central goal, according to Hoskinson, is to secure what Circle does for non-EVM chains. The integration with Circle allows non-EVM chains like Stacks and Aleo, as well as dApp developers, to build on Cardano.
This comes easily through their network to access the same liquidity as USDC. Cardano now has access to Circle’s network, protocol, technology, liquidity, and the added privacy benefits of USDCx.
This is a big win for the Cardano ecosystem. Essentially, stablecoins, especially major ones like USDC variants, drive adoption, liquidity, and real-world utility in DeFi and payments.
Despite the potential, the Cardano and ADA community members shared mixed sentiments about the integration announcement. Some Cardano and the team, emphasizing that the network is finally getting a real stablecoin rail.
Others, however, expressed disappointment about Cardano not integrating directly with USDC. They questioned whether they can send USDCx to a centralized exchange that supports USDC.
Circle and Pentad, Key Highlight
In a follow-up post, Hoskinson confirmed in a video that USDCx is basically the same asset as USDC. He explained that USDCx works on a one-to-one reserve.
Hoskinson praised Circle for really building a robust ecosystem. He said Circle has transitioned from just a simple asset in the Ethereum world to one of the dominant stablecoin providers.
The Cardano founder further teased about an upcoming announcement from Pentad regarding Circle.
Hoskinson proposed unifying the Pentad into a cohesive executive body. Pentad comprises the Cardano Foundation, Emurgo, Input Output Global (IOG), the Midnight Foundation, and Intersect.
In the recent video, Hoskinson revealed plans to get USDCx integrated into all of the Cardano applications. The goal is to achieve a seamless user experience with exchanges.
“Just a little bit more integration on our side, but not too much. And this is not something that’s six months out. Ink is on paper. Deal is signed,” Hoskinson noted.
He assured the community that Pentad will get the critical integrations right. Hoskinson added that Pentad is holding strong in tough negotiations and getting their way through it.
Cardano Midnight Taps Partnership With Spacecoin, Impact on ADA Price
In another Cardano news, the Midnight network teamed up with Spacecoin. They are teaming up to create a peer-to-peer (P2P) messaging platform that combines satellite-based internet access with advanced cryptographic privacy tools.
The goal is true end-to-end privacy and resilience against censorship, even in places where the regular internet is blocked, unreliable, or monitored.
Through the partnership, Midnight will combine Spacecoin’s low-Earth orbit satellite with its blockchain-coordinated privacy infrastructure. The Midnight team said they are exploring how connectivity and privacy can be delivered together.
The focus of the partnership is on infrastructure, where people can connect and communicate without sacrificing privacy at any layer.
As regards ADA price, the coin is still facing a downtrend despite the positive updates in the Cardano ecosystem. Over the past 24 hours, ADA price tanked 5.7% to $0.3249.