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We report on XMM-Newton X-ray observations that reveal CTCV J2056-3014 to bean unusual accretion-powered, intermediate polar (IP) system. It is a member ofthe class of X-ray-faint IPs whose space density remains unconstrained butpotentially very high, with L$_{x,0.3-12 keV}$ of 1.8$\times$10$^{31}$ ergs$^{-1}$. We discovered a coherent 29.6s pulsation in X-rays that was alsorevealed in our reanalysis of published optical data, showing that the systemharbors the fastest-spinning, securely known white dwarf (WD) so far. There isno substantial X-ray absorption in the system. Accretion occurs at a modestrate ($\sim$ 6$\times$10$^{-12}$ M$_{\odot}$ yr$^{-1}$) in a tall shock abovethe WD, while the star seems to be spinning in equilibrium and to have lowmagnetic fields. Further studies of CTCV J2056-3014 potentially have broadimplications on the origin of magnetic fields in WDs, on the population andevolution of magnetic cataclysmic variables, and also on the physics of matteraround rapidly rotating magnetic WDs.

CTCV J2056-3014: An X-ray-faint Intermediate Polar Harboring An Extremely Fast-spinning White Dwarf