Hex Trust, a Hong Kong-based crypto custodian, has announced the issuance of the first native stablecoin USDX on Layer-1 blockchain Flare. USDX has also become the first native stablecoin on the Flare blockchain. This stablecoin is backed by the US dollar or assets of equivalent value at a 1:1 ratio. It can be used in lending protocols and exchanges, and it also features a dedicated T-Pool staking mechanism created by decentralized credit market Clearpool.

Odaily Daily News According to the decentralized credit market Clearpool, the total amount of loans on the platform has exceeded $500 million. Clearpool was initially launched on the Ethereum network and has now expanded to multiple networks including @0xPolygon, #PolygonzkEVM, @Optimism, @0xMantle, and the recent @avax.