RWA Platform TX Launches USD Stablecoin USTX, Mintable via USDC Across 8 Blockchains

On October 20 that according to Cointelegraph, RWA platform Tx launched the USD stablecoin USTX for its wallet and upcoming tokenized stock market. Users can mint USTX using USDC across eight blockchains, including Ethereum, Solana, and Base, and redeem it directly for USDC.

USTX is issued by fintech platform Brale, which oversees reserve management, minting, and redemption. Tx stated that USTX is not a wrapped or synthetic version of USDC, but rather maintains an independent 1:1 reserve structure, with each USTX backed by $1 in assets. These reserves include cash, bank deposits, government money market funds, and short-term U.S. Treasury bills.

Tx noted that eligible users can also earn rewards through its wallet program. The company stated that the reward mechanism was designed based on legal advice to comply with the restrictions on stablecoin yield payments under the GENIUS Act.