TechFlow News: Hong Kong-based cryptocurrency custodian Hex Trust Group has launched USDX, a new stablecoin built on the Flare blockchain, becoming the first native stablecoin on Flare.
USDX will be available across lending protocols and exchanges, and will support staking into a dedicated T-Pool created by decentralized credit market Clearpool.
USDX can be used for DeFi lending and trading, and supports staking. Staking USDX yields cUSDX, which can be used as collateral. The stablecoin maintains a 1:1 peg to the U.S. dollar or equivalent assets.
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