Real-world asset platform tx introduced the USTX stablecoin for its wallet in a Tuesday announcement, while its tokenized-stock marketplace remains planned. Users obtain USTX through USDC and redeem it into USDC.

Key Takeaways

  • USTX has launched, while tx’s marketplace for tokenized stocks remains planned.
  • Brale issues the token and oversees its reserves, minting and redemption.
  • Eligible wallet users may receive rewards, which tx says were structured with legal advice.

Table of Contents

How the USTX stablecoin is funded

USDC serves as the entry and exit asset, but tx says USTX has a separate reserve arrangement rather than functioning as a wrapped or synthetic version of USDC.

According to tx, every USTX token has $1 of backing. The reserve assets include cash, deposits held at banks, government money-market funds and short-dated US Treasury bills. Fintech company Brale is responsible for issuance, reserve administration and the minting and redemption process.

The platform supports deposits originating on eight blockchains. Ethereum, Solana and Base are among the supported networks.

Wallet rewards carry a separate legal question

Tx says qualifying USTX users may receive rewards through programs offered in its wallet. That possibility sits alongside restrictions in the GENIUS Act, which bars issuers from paying interest or yield merely because someone holds, uses or retains a payment stablecoin.

Ashley Ebersole, tx’s co-founder and chief legal officer, said the rewards program had been developed with legal advice to keep it within the law’s permitted scope.

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