In line with regulatory requirements, this website, the USDX token and the XFT Portal and all other services offered by The Company are not accessible by individuals or businesses from the US, Cuba, Iran, North Korea, Russia, Syria, the following regions in Ukraine (Crimea, Donetsk and Luhansk), Balkans, Belarus, Burma (Myanmar), Central African Republic, Democratic Rep of Congo, Ethiopia, Hong Kong, Iraq, Lebanon, Libya, Sudan, Venezuela, Yemen and Zimbabwe. USDX has not been and will not be registered under the U.S. Securities Act of 1933 or with any securities regulatory authority of any State or other jurisdiction of the United States and (i) may not be offered, sold or delivered within the United States to, or for the account or benefit of U.S. Persons, and (ii) may be offered, sold or otherwise delivered at any time only to transferees that are Non-United States Persons (as defined by the U.S. Commodities Futures Trading Commission).

The first permissionless yield-bearing stablecoin

5.00% APY

Institutional-grade. Regulated. Transparent.

Get startedHow USDM works

Backed by

Multicoin Capital
Castle Island Ventures
Coinbase Ventures
Bankless Ventures
New Form
01_

Transparent asset claim

A simple link between token and underlying assets, removing complex legal structures.

02_

Tier-one institutional partnerships

As a regulated financial institution XFT partners with top-tier institutions.

03_

Robust bankruptcy protection

USDM reserves are to be treated as a separate asset class in the event of bankruptcy.

How USDX works

Access 5% APY

Simply hold USDX in your wallet and earn daily rewards.

Permisionless and composable

USDM is a permissionless ERC20, similar to leading fiat-backed stablecoins. USDM is compatible with any smart contract that supports the ERC20 standard.

Leading security standards

Security standards, including audit by Open Zeppelin, a leading smart contract audit firm and building on top of Fireblocks, a leading MPC custody solution.

Regulated and transparent

USDM Reserves are held in a bankruptcy remote setup, with collateral proof of reserves, third party attestations and regulatory oversight.

XFT works with trusted global leaders

Coinbase Prime
Get startedHow USDX works

USDX operates in a very similar way as other fiat-backed stablecoins like USDC or USDP. Primary users (those who have an account with XFT) can mint and redeem USDX at $1. Both primary and secondary users can freely transfer their USDX, deposit it into smart contracts, and interact with any protocol that is compatible with the ERC20 standard.

USDX is fully collateralized by "USDX Reserves", held in segregated, bankruptcy remote accounts. Reserves are composed exclusively by short-term US Treasuries. Short term US government debt is considered the lowest risk USD-denominated asset. "USDX Reserves" differ from most fiat-backed stablecoins in that the composition of stablecoins and bank deposits is minimized, to mitigate counterparty risk.

Currently, USDX is natively supported on Ethereum, Polygon, Arbitrum, Optimism and Base. XFT plans to bring native issuance to other blockchains in the future. If you are a looking to bring USDX to a specific blockchain, contact us.

USDX can be purchased directly from XFT by Primary users, which are those with an active XFT account. Users need to be incorporated businesses in supported countries and complying with the Terms of Service of XFT. Secondary users can acquire USDX from Primary users, from other Secondary users or via decentralized exchanges.

USDX rebases daily, accruing new tokens regardless of where the USDX is held. The mechanism of rebasing modifies the balanceOf via a rewardMultiplier. For more details, refer to the documentation here.

Permissionless
Regulated
Composable
Transparent
Secured

Ready to get started?

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