What is Hex Trust USD?

USDX is pegged to the USD and is fully backed by at least a 1:1 amount of cash and cash-equivalent reserves. It is issued by Hex Trust through its issuance arm, HT Digital Asset, and is available on multiple blockchains. The token aims to provide a reliable medium of exchange for transactions within blockchain ecosystems.

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. USDX serves multiple purposes, functioning not only as a stable store of value but also enabling various applications within the digital economy, including payments, settlements, and smart contract interactions.