Circle and Pentad

Hi, this is Charles Hoskinson broadcasting live from warm, sunny Fukuoka, Japan, as part of the Japan tour. We're about three cities in. We were in Hokkaido, which was a lot of work to get to and even more to get out of due to terrible storms—two meters of snow. Then we went to Osaka, where it was great to see a lot of old friends, including some from the early days of Cardano. We just arrived in Fukuoka today.

While we're on the road, we're still working hard. The Pentad has been in deep negotiations, and I'm very pleased to announce, as I did on Twitter, that USDCX is coming to Cardano. Circle is a tough negotiator; they really care about their business and are consummate professionals. They effectively represented their interests, and the people at the Pentad did a great job representing ours. What we've secured is what Circle does for non-EVM chains.

USDCX is essentially the same asset, operating on a one-to-one reserve. For non-EVM chains like Stacks and Aleo, a mirroring effect occurs, allowing dApp developers to build various applications. This makes it easy for them to access the same liquidity as USDC. People have been asking for a long time for a tier-one stablecoin on Cardano, and now we have it. We have access to Circle's network, protocol, technology, and the great liquidity of the Circle network as a whole, along with the added privacy benefits of USDCX and its associated technologies.

Circle has put a lot of hard work into building out their ecosystem, evolving from a simple asset in the Ethereum world to one of the dominant stablecoin providers. We're proud to finally bring that entire ecosystem into the Cardano ecosystem. We're not done yet; there's much more to announce with the Pentad. We're in deep negotiations with some bridges and other stablecoins of a similar nature. We need to ensure that USDCX is integrated into all Cardano applications for a seamless user experience, especially with exchanges, allowing users to transition from USDC and back without additional steps.

There's just a bit more integration on our side, but it's not a long wait. The deal is signed, and I expect the integration to happen in short order. One of the advantages of USDCX is its fast integration time; it doesn't require extensive custom work because Circle has already done similar integrations with Aleo and Stacks. It's a challenging day; there's a lot going on. The markets aren't in great shape, and people are feeling pretty grouchy.

However, our best days are ahead of us. The fundamentals are sound, the ecosystem is strong, and the community is here. We're building and honoring the commitments and promises we've made. You voted for the Pentad to secure critical integrations, and those integrations are not only coming but are also being formalized and integrated into the network. I know some people are skeptical.

I saw a video from Sin City Crypto the other day questioning whether Pith will come. I can't control market sentiment or external factors like government shutdowns or global events. We have good days and bad days, and that's just the reality of the cryptocurrency space. All we can control is what we build, who we partner with, and our overall strategy as an ecosystem. Leos is on schedule, Hydra continues to grow, and the dApp and DeFi ecosystem of Cardano is strong.

There are many ways we can make it even stronger. The CCI is well underway, and the Pentad is navigating tough negotiations. Midnight is also growing. We have many exciting announcements planned for February, and we'll keep chipping away at it month by month. The markets will improve eventually, and so will the ecosystem.

What you choose to do with this information is your prerogative. I choose to remain hopeful and optimistic, recognizing that even in these valleys, we can still enjoy great mountain views, and we will reach the summit again. This is a good day: Circle is coming to Cardano. You've asked for it for a long time, and this is how it gets done. Thank you to everyone at the Pentad who negotiated this deal, and thank you to the Circle organization for their collaboration.

There's a lot more to do and say, but I'll leave it to the other members of the Pentad to share those details. I wanted to be one of the first to let that we have ink on paper and a deal in place. From time to time, I will return to Twitter for major announcements. Here in Fukuoka, we're excited to engage with the Cardano community, as we will in Okinawa and Tokyo, and of course in Hong Kong. Major initiatives are still on schedule, and everyone is working hard.

We are committed for the long haul, so we'll keep pushing forward. Hang in there, even on the tough days. Cheers, everyone.