Real-world asset platform tx has launched USTX, a dollar stablecoin for its wallet and planned marketplace for tokenized stocks. Users can mint USTX using USDC and redeem it back for USDC, according to an announcement from the company.
The platform accepts deposits from eight blockchains, including Ethereum, Solana and Base. USTX is not a wrapper or synthetic representation of USDC, but rather uses USDC as a mechanism to mint the stablecoin, which maintains its own 1:1 reserve structure through Brale, a fintech platform that issues USTX, manages reserves, and facilitates minting and redemption.
Each USTX token is backed by $1 in assets, including cash, bank deposits, government money market funds and short-term US Treasury bills. Brale previously announced in June that it was collaborating with Visa to enhance the speed and programmability of blockchain-based stablecoin settlement.
Native stablecoins like USTX provide a common dollar balance for buying assets, settling trades and posting collateral across blockchain networks. Some stablecoin providers share reserve earnings with clients, and eligible USTX users may receive rewards through tx's wallet programs, structured according to legal guidance to comply with the GENIUS Act, which prohibits stablecoin issuers from paying holders interest or yield solely for holding a payment stablecoin.
