What is Hex Trust USD?

USDX is a stablecoin designed to be pegged to the USD, fully backed by a minimum 1:1 ratio of cash and cash-equivalent reserves. It is issued by Hex Trust's issuance arm, HT Digital Asset, and operates across multiple blockchains. The distribution of USDX occurs through a minting process where Authorized Merchants deposit USD into a designated account, resulting in an equivalent amount of USDX being minted and sent to their wallets.

The utility of USDX extends beyond serving as a stable store of value; it can facilitate various applications within the digital economy, including payments, settlements, and interactions with smart contracts. The project aims to support a responsible approach to digital asset solutions while complementing Hex Trust's broader vision of securing a permissionless future.