Hex Trust Group launches, USDX, the first native stablecoin on Flare Network
Hex Trust launches USDX, the first native stablecoin on Flare, backed 1:1 by USD. USDX can be staked in Clearpool’s T-Pool for real-world yield without lock-ups. USDX aims to enhance Flare’s DeFi ecosystem, supporting lending and borrowing. Hong Kong-based digital asset custodian, Hex Trust Group, has launch ed USDX, the first native stable coin on the Flare network. The move by Hex Trust Group will bolster the decentralized finance (DeFi) ecosystem on Flare, a layer-1 blockchain tailored for data-intensive applications. USDX stablecoin by HT Digital Assets USDX, developed by HT Digital Assets, Hex Trust’s tokenization ecosystem, is a stablecoin backed 1:1 against the U.S. dollar or equivalently valued assets. The stablecoin’s reserves primarily consist of 1-3 month Treasury Bills, held securely by regulated tier-1 financial institutions, ensuring stability and trust in the stablecoin’s value. The stablecoin is designed to s...