RWA Platform tx launches stablecoin USTX, and users can deposit from 8 blockchains to USDC mint and redeem.
Article
RWA Platform tx launches USD stablecoin USTX, supporting minting using 8 blockchains USDC BlockBeats reports that October 20, a real-world asset (RWA) platform, has launched USD stablecoin USTX for use in its wallet and planned tokenized stock trading market. Users can mint USDC via USTX and redeem it for USDC, with deposits supported from 8 blockchains, including Ethereum,Solana and Base.USTX is issued by fintech platform Brale, which also manages reserves and provides minting and redemption services. Ashley Ebersole, tx co-founder and Chief Legal Officer, stated that USTX is not a wrapped token backed by USDC or a synthetic representation of USDC, but instead has an independent 1: 1 reserve structure. According to tx, each USTX is backed by assets worth 1 USD, including cash, bank deposits, government money market funds, and short-term U.S. Treasury securities.
tx stated that eligible USTX users may also earn rewards through the wallet rewards program. However, the U.S.GENIUS Act prohibits stablecoin issuers from paying interest or yield to users solely for holding, using, or retaining payment stablecoins. Ebersole said tx's overall rewards program was designed under legal guidance to ensure compliance with applicable regulatory requirements.
Original link https://m.theblockbeats.info/flash/372794
Key points
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BlockBeats reports that the real-world asset (RWA) platform tx has launched USD stablecoin USTX。
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USTX for tx's wallet and planned tokenized stock trading market.
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Users can mint via USDC USTX and can also redeem USTX for USDC。
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The service supports deposits from 8 blockchains, including Ethereum, Solana, and Base.
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Brale is responsible for USTX issuance, reserve management, and minting and redemption services.
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Ashley Ebersole stated that USTX has an independent 1: 1 reserve structure and is not a wrapped token backed by USDC or a synthetic representation of USDC.
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According to tx, each USTX is backed by assets worth 1 USD, including cash, bank deposits, government money market funds, and short-term U.S. Treasury securities.
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tx stated that eligible USTX users can earn rewards through the wallet rewards program.
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Ashley Ebersole said that tx's overall rewards program was designed under legal guidance to ensure compliance with applicable regulatory requirements.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
USTX is a USD stablecoin launched by tx. Users can deposit USDC in exchange for USTX and can also exchange USTX back for USDC. Although the exchange entry point uses USDC, tx executives said USTX is not a wrapped version of USDC but instead uses independent reserves; the specific composition of reserve assets currently comes from tx's description.
Why it matters to readers
USTX Designed for the tx wallet and planned tokenized stock trading market, it supports deposits of 8 from USDC blockchains and may become a payment or settlement instrument in these scenarios. Its credibility will depend on reserve arrangements, the compliance of minting and redemption services, and the rewards program.
Beginners should distinguish between “minting USDC with USTX” and “USTX being directly backed by USDC”: the original text states that the former is an exchange method, while USTX uses independent 1: 1 reserves. Before participating, attention should be paid to whether redemption can proceed smoothly, reserve information, and reward eligibility.
Risks and unknowns
The original text does not provide USTX reserve audits, proof of reserves, or regulatory filings.
Independent 1: 1 reserve structure and the claim that each USTX is backed by assets worth 1 USD originate from tx's description and statements by its executives; no independent verification is attached to the original text.
The original text does not specify the complete list of 8 supported blockchains.
Related Developments
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The original text does not specify the detailed rules, forms of rewards, or eligibility criteria for the wallet rewards program.
Whether the rewards program actually complies with applicable regulations is supported in the original text only by Ashley Ebersole's compliance statement.
When the planned tokenized stock trading market will launch and USTX's actual usage remain unclear.
Related concepts
real-world assets (RWA）
This term is not in the glossary yet. Browse related concepts in the glossary.
