Real-world asset (RWA) platform TX has launched the dollar stablecoin USTX aimed at tokenised stock trading.

Cointelegraph, a blockchain media outlet, reported on Oct. 20 local time that USTX is designed to be used as a means of payment in the TX wallet and in a tokenised stock marketplace that it plans to launch.

Users can mint USTX with USDC, and can also redeem USTX for USDC. TX accepts deposits in the process across eight blockchains, including Ethereum, Solana and Base. The structure is designed to pull USDC liquidity spread across multiple chains into the TX chain for use as a common dollar balance.

Fintech platform Brale will handle issuance and reserve management for USTX. TX said USTX is backed by assets worth $1 per token. Reserve assets include cash, bank deposits, Treasury-type money market funds and short-term U.S. Treasuries.

Ashley Eversole, TX co-founder and chief legal officer (CLO), drew a line between USTX and a simple USDC derivative token. USDC is only the issuance route, she said, adding that USTX has its own 1:1 reserve structure through Brale.

The launch comes alongside a trend of blockchain networks and trading platforms increasing their own dollar stablecoins by using external issuers. Such structures provide a dollar unit that can be commonly used inside a network for asset purchases, trade settlement and collateral deposits. TX also plans to use USTX as the base unit for payments for tokenised stocks and other assets.

A rewards programme will also be run. Some stablecoin providers share part of reserve management returns with customers, and TX said it can also provide rewards through a wallet programme to eligible USTX users. It added that the design was adjusted in consideration of regulatory constraints.

The U.S. Genius Act prohibits paying interest or returns solely because of holding or using a payment stablecoin. Eversole said all of the company’s rewards programmes were designed based on legal advice.

Brale previously said it was working with Visa in June to increase the speed and programmability of blockchain-based stablecoin payments in environments where privacy, compliance and operational control are important. Against that backdrop, TX’s USTX is seen as an attempt to build payment infrastructure for tokenised asset trading within its own chain.