USX is a US dollar-pegged stablecoin issued on the Solana blockchain and developed by Solstice Finance. It aims to provide a secure, efficient, and transparent digital dollar for both institutional and retail users.
USX officially launched on Solana in late September 2025, with roughly 160 million dollars in deposited assets (TVL) reported at launch. The project is reported to be backed by investors including Galaxy Digital and Bitcoin Suisse.
USX is minted against liquid collateral, including leading stablecoins such as USDT and USDC, and is designed to hold a value of one dollar. Rather than relying on an algorithm, it is backed by collateral of 100 percent or more.
Beyond simply holding reserves, USX is built to plug directly into the Solana DeFi ecosystem. It serves as a core liquidity layer for trading, lending, and payments while using Solana's fast throughput.
Data provided by CoinGecko
USX does not have a fixed supply; it expands and contracts as collateral is deposited and redeemed. Circulating supply therefore changes with market demand and the size of the collateral base.
Through YieldVault, users can deposit USX and receive eUSX, which represents a share of assets run with delta-neutral strategies. Solstice has also launched structured products such as strcUSX, widening the ecosystem.
USX highlights Solana's speed, low fees, and strong composability with DeFi protocols as its strengths. It can serve as a base asset for payment processors and institutions seeking dollar liquidity.
However, stablecoins still carry risks such as collateral risk, smart contract vulnerabilities, temporary depegs, and regulatory change. Yield products add strategy-related risks, so understanding their structure is important.
Links to major exchanges below. Check listing and fees on each exchange. Not investment advice; links may contain affiliate (referral) codes.