USDCx is a USD-denominated stablecoin on Aleo designed for confidential, programmable payments using zero-knowledge proofs. USDCx is issued on Aleo via Circle’s xReserve system and is backed 1:1 by USDC held in xReserve. Users can mint USDCx on Aleo by depositing USDC into xReserve and can burn USDCx to withdraw the underlying value through the corresponding redemption flow. On Aleo, USDCx can be used for on-chain settlement and payment workflows - such as transfers, treasury operations, and application payments - where transaction details can be kept non-public by default.