RWA platform tx launches USD stablecoin USTX, supporting minting with USDC from 8 blockchains

October 20: Real-world asset (RWA) platform tx has launched the U.S. dollar stablecoin USTX for use in its wallet and planned tokenized stock trading marketplace. Users can mint USTX with USDC and redeem it for USDC, with support for deposits from 8 blockchains, including Ethereum, Solana, and Base.

USTX is issued, reserve-managed, and supported for minting and redemption by fintech platform Brale. tx co-founder and chief legal officer Ashley Ebersole said USTX is not a wrapper token backed by USDC or a synthetic representation of USDC, but has an independent 1:1 reserve structure. According to tx, each USTX is backed by $1 worth of assets, including cash, bank deposits, government money market funds, and short-term U.S. Treasuries.

tx said eligible USTX users can also earn rewards through a wallet rewards program. However, the U.S. GENIUS Act prohibits stablecoin issuers from paying interest or yield to users solely because they hold, use, or retain payment stablecoins. Ebersole said tx's overall rewards program was designed under legal guidance to ensure compliance with relevant regulatory requirements.