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Crypto

Sonic Labs launches native stablecoin USSD using Frax infrastructure

Sonic Labs has launched USSD, a native stablecoin using Frax infrastructure, The Block reported on March 9 local time. The Block said USSD is backed by tokenised U.S. Treasuries from BlackRock, WisdomTree and Superstate and will provide liquidity within the Sonic network. Built on Frax Finance’s modular backend, USSD can be issued directly on more than 10 chains via cross-chain LayerZero and can be converted with Circle’s USDC.

Crypto

Sonic revises S token economy strategy, pushes direct development and acquisitions of core apps

Sonic said it will pursue a vertically integrated strategy to raise demand for its S token by building and acquiring core applications. The company is shifting from a traditional layer 1 approach focused on gas fees to one aimed at improving token utility and liquidity. Sonic Labs said block space is no longer scarce as scaling improves, increasing fee pressure amid rollups, alternative layer 1s and modular architectures.