News about real-world assets

Real-world asset platform tx has launched USTX, a dollar stablecoin issued by fintech Brale for its wallet and planned marketplace for tokenized stocks. Users need USDC to mint USTX, which can also be redeemed for USDC, and deposits are accepted from eight blockchains including Ethereum, Solana and Base. Each token is said to be backed 1:1 by $1 in assets such as cash, bank deposits, government money market funds and short-term US Treasury bills. Eligible users may receive rewards through tx's wallet programs, and co-founder Ashley Ebersole said the program was designed on legal advice to stay within the GENIUS Act, which bars stablecoin issuers from paying yield solely for holding a stablecoin.