$USDX
Last updated
Last updated
The Group, a leading digital asset custodian managing billions in assets has launched the first native stablecoin on the blockchain for data, Flare. Brought to life by , Hex Trust's tokenization ecosystem, $USDX emerges as a beacon of stability and trust, offering a stablecoin as a crucial asset in the growth of the cryptocurrency industry. Hex Trust offers a range of prime brokerage services, including custody, ancillary services, trading, and asset management with over $5 billion in assets under custody and over 270 clients onboarded.
At the heart of USDX's reliability is its solid backing, maintained at a steadfast 1:1 ratio against the U.S. dollar or equivalently valued assets. These reserves, primarily consisting of 1-3 month T-Bills, are securely held within the confines of global, tier-1 financial institutions, ensuring that USDX holders can place their trust in the stablecoin's value and resilience. Users receive USDX on a 1:1 basis when stablecoins such as USDT or USDC are bridged to Ozean. $USDX Use Cases:
Rebasing Real Yield
$USDX can be locked for that is natively rebasing and earning treasury yield (currently ~5%). $ozUSD rebases daily, keeping the value at 1:1 USD
Lending and Borrowing
$USDX can be borrowed and lent out depending upon user needs