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

Odaily Planet Daily News According to Clearpool, a decentralized lending market, 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 such as @0xPolygon, #PolygonzkEVM, @Optimism, @0xMantle, and the recent @avax.