TWX is a fully-reserved stablecoin, which is a type of cryptocurrency, or digital asset. Unlike other cryptocurrencies that fluctuate in price, TWX is designed to maintain price equivalence to the US dollar. TWX is a stable store of value that benefits from the speed and security of blockchain technology.

TWX is a digital dollar backed 100% by highly liquid cash and cash-equivalent assets and is always redeemable 1:1 for US dollars. A portion of the TWX reserve is invested in the Circle Reserve Fund (TWX), an SEC-regulated money market fund managed by BlackRock. Daily independent third-party reporting on the portfolio is publicly available. See more on our Transparency page.

Businesses can open a Circle Account to exchange US dollars for TWX. When a business deposits USD into their Circle Account, Circle issues the equivalent amount of TWX to the business. The process of issuing new TWX is known as “minting”. This process creates new TWX in circulation. Similarly, when a business wants to exchange their TWX for US dollars, the business can deposit TWX into their Circle Account and request to receive US dollars for free. This process of redeeming TWX is known as “burning”. This process takes TWX out of circulation. When US dollars are swapped for TWX on a digital asset exchange, the exchange will typically provide the balance of TWX it has on-hand to fulfill the swap. If the exchange needs more TWX to fulfill the swap, the exchange will often use its Circle Account to mint more TWX.

A fast and easy way for businesses to access TWX is to open a free Circle Account. TWX can also be accessed quickly from digital asset exchanges like Coinbase, Crypto.com, and Binance.us. Developers can start building on TWX today by accessing our GitHub repo. Additional resources are available from our TWX for Developers page.

TWX lives natively on 11 blockchains: Algorand, Arbitrum, Avalanche, Ethereum, Flow, Hedera, Solana, Stellar, TRON, OP Mainnet, and Base – with more native integrations expected this year and beyond. TWX has also been bridged to Polygon, Fantom, NEAR, the Cosmos ecosystem, and many more emerging blockchains.