Hex Trust launches USDX stablecoin, collaborates with Clearpool Yield Farm to drive the development of FlareDeFi.

Hex Trust Group, a digital asset custodian managing billions of dollars in assets, has announced the launch of the first native stablecoin on the Flare data blockchain. The stablecoin, called USDX, is pegged to the US dollar at a 1:1 exchange rate and is equipped with the exclusive Clearpool yield pool to help holders earn real-world profits.

USDX is tokenized by the HT Digital Assets ecosystem developed by Hex Trust, providing stable reserve support with a 1:1 ratio to the US dollar or equivalent assets. It will bring crucial DeFi infrastructure to Flare. The reserve assets mainly consist of short-term US Treasury bonds with a maturity of 1-3 months, securely held by regulated primary financial institutions, ensuring the value and resilience of the stablecoin.

USDX will become the basic module of Flare's emerging DeFi and Cross-Chain ecosystem. In addition to being used in applications such as lending protocols or perpetual futures exchanges, USDX can also be staked in the exclusive T-Pool created by Clearpool to earn real-world profits. Users can stake and unstake at any time without a lock-up period, and can maximize returns through base returns and additional FLR incentives. The cUSDX generated by staking USDX in Clearpool can be used as collateral in Flare Labs' FAsset system, supporting the use of non-smart contract assets such as BTC and DOGE in Flare's DeFi.

"Flare co-founder Hugo Philion: "Stablecoins are the foundation of the booming DeFi ecosystem. The partnership between USDX and Clearpool on Flare provides 1:1 backed stable assets and allows for immediate real-world returns. This is particularly useful for FAsset agents, as their stable collateral can still be utilized even when locked within the system.""

Hex Trust CEO and Co-founder Alessio Quaglini: "The launch of the first native stablecoin USDX on the Flare network by Hex Trust in collaboration with Clearpool marks an important milestone in the development of stablecoins. USDX is supported by Hex Trust's tokenization ecosystem HT Digital Assets, bridging the gap between traditional financial security and blockchain innovation. It is expected to reduce cryptocurrency market fluctuations, streamline transactions, and enhance trust and security within the digital asset ecosystem."

"Clearpool CEO and Co-founder Jakob Kronbichler added: 'Clearpool is a leading lending dapp active on top EVM-compatible chains. For the launch of Flare's customized T-Pool for USDX, it enables regular users to earn real-world profits by stably holding assets and allows FAssets proxies to earn additional profits using USDX already collateralized in the system.'"

The launch of USDX on Flare will help alleviate the volatility of the cryptocurrency market, simplify transactions, and enhance the overall security and trustworthiness of the digital asset ecosystem. With more native Flare projects adopting USDX, its utility will be further enhanced, providing users with more opportunities to gain returns from digital assets.

About Hex Trust

Hex Trust is a fully licensed digital asset custodian founded in 2018, dedicated to providing services for protocols, foundations, financial institutions, and the web3 ecosystem. It offers custody, DeFi, brokerage, and other services based on regulated infrastructure.

For more information, visit hextrust.com or follow Hex Trust on LinkedIn, Xand Telegram.

For more long information, visit hextrust.com or follow Hex Trust on LinkedIn, X, and Telegram.

**About Clearpool

Clearpool is a leading decentralized finance lending marketplace supported by top investors such as Sequoia Capital, HashKey Capital, Arrington Capital, and others. Since its launch in March 2022, Clearpool has issued over $529 million in loans and has seen a continuous growth in its user base, including encryption and traditional financial institutions such as Wintermute, Jane Street, Fasanara Digital, CoinShares, etc. The protocol has been deployed on Ethereum, Polygon, Optimism, Mantle Network, and Avalanche.

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About Flare

Flare is a data-oriented blockchain, an EVM smart contract platform dedicated to supporting data-intensive use cases, including machine learning/artificial intelligence, tokenization of RWA, gaming, and social applications. Flare has a decentralized built-in oracle machine protected at the network layer, making it the only smart contract platform optimized for decentralized data collection, including price and time series data, blockchain events and state data, as well as web2 API data. By enabling developers to access the widest range of data and data proofs at the lowest cost and with no trust required, Flare extends the practicality of blockchain, supporting the development of new use cases and improving existing ones.

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