[tx Launches USD Stablecoin USTX for Tokenized Asset Trading] Odaily Planet Daily News: Real-world asset platform tx has launched the USD stablecoin USTX for use in its wallet and planned tokenized stock market. Users can mint USTX using USDC from 8 blockchains and redeem it back into USDC. Supported networks include Ethereum, Solana, and Base. Financial technology platform Brale is responsible for issuing USTX, managing reserve assets, and executing minting and redemption. tx co-founder and Chief Legal Officer Ashley Ebersole stated that USTX is not a wrapped asset backed by USDC or a synthetic representation of USDC. Instead, it adopts an independent 1:1 reserve structure through Brale. According to tx's disclosure, each USTX is backed by $1 in assets, with reserves comprising cash, bank deposits, government money market funds, and short-term U.S. Treasury bonds. Eligible USTX users can also earn rewards through the tx wallet program. Ashley Ebersole noted that the rewards program is designed in accordance with legal opinions to comply with the GENIUS Act regulations. (Cointelegraph)