Real-world asset (RWA) platform tx has launched USTX, a US dollar stablecoin issued by fintech platform Brale. Each token is backed by one dollar in assets, including cash, bank deposits, government money market funds and short-term US Treasury bills. Users can mint USTX with USDC from eight blockchains, including Ethereum, Solana and Base, and redeem it for USDC on a 1:1 basis. Brale, which is also working with Visa to improve the speed and programmability of blockchain-based stablecoin settlement, manages the reserves and oversees token issuance. Eligible users may receive rewards through tx’s wallet program, designed to comply with the GENIUS Act’s prohibition on paying interest or yield to payment stablecoin holders.
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