Real-world asset platform tx launched USTX, a dollar stablecoin for its wallet and planned marketplace for tokenized stocks. Users need USDC to mint USTX and can redeem it for USDC, but tx says USTX is not backed by USDC. Brale issues the token and manages its reserves; 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.
Eligible users may receive rewards through tx’s wallet programs. The GENIUS Act bars stablecoin issuers from paying yield solely for holding, using or retaining a payment stablecoin; tx’s chief legal officer said its rewards program was designed on legal advice to comply with that restriction.
