Hex Trust issues native stablecoin USDX on Layer-1 blockchain Flare

Golden Finance reports that Hong Kong crypto custodian Hex Trust announced the issuance of the first native stablecoin USDX on the Layer-1 blockchain Flare. USDX has also become the first native stablecoin on the Flare blockchain. The stablecoin is similar to The backing ratio for USD or assets of equivalent value is maintained at 1:1, can be used in lending protocols and exchanges, and also features a staking mechanism for a dedicated T-Pool created by the decentralized credit market Clearpool.