Tx launches USTX stablecoin to pull RWA liquidity onto its chain

Real-world asset (RWA) platform tx has launched USTX, a dollar stablecoin for its wallet and planned marketplace for tokenized stocks.Users will need USDC to mint USTX, which can also be redeemed for USDC, the company said in a Tuesday announcement shared with Cointelegraph. The platform accepts deposits from eight blockchains, including Ethereum, Solana and Base.“It is not a USDC-backed wrapper or synthetic representation of USDC,” Ashley Ebersole, tx’s co-founder and chief legal officer, told Cointelegraph. USDC provides a way to mint USTX, which has its own 1:1 reserve structure through Brale, he said.Fintech platform Brale issues USTX, manages its reserves and facilitates minting and redemption. According to tx, each token is backed by $1 in assets, including cash, bank deposits, government money market funds and short-term US Treasury bills.Brale said in June that it was working with Visa to improve the speed and programmability of blockchain-based stablecoin settlement in environments where privacy, compliance, and operational control are essential.Blockchain networks and trading platforms are launching their own dollar stablecoins through outside providers that handle issuan...