Tokenization platform tx is building its own dollar. The project is preparing a native stablecoin called USTX, designed to settle trades in tokenized stocks, ETFs and other real-world assets on the tx chain.
The token is issued by Brale and minted with USDC. The idea is simple: one dollar balance in one place, instead of USDC scattered across a handful of networks.
How USTX works
Tx describes itself as a primary operating system for tokenization. It announced USTX on September 23, 2026, and the stablecoin is set to launch in October 2026.
Minting works a bit like a currency exchange booth with a fixed rate. You hand over USDC, you get USTX back, and you can redeem USTX for USDC whenever you want out.
At launch, minting is supported from four networks: Ethereum, Base, Polygon and Solana. Tx plans to expand that list to eight networks in total.
USTX is designed to be fully backed 1:1. Brale holds the reserves in bank deposits, government money market funds and short-term US Treasury bills.
Those reserves are covered by monthly attestations from a CPA. An attestation is an accountant checking that the money is actually where the issuer says it is, at a given moment.
Brale is a regulated US stablecoin infrastructure provider with SOC 2 Type II certification. That certification evaluates how a company handles security and data controls over a stretch of time, rather than on a single good day.
The first live activity was modest. A test mint of 1 USTX took place on mainnet on October 13, 2026, as the token moved through its pre-launch testing phase.
The fragmentation problem
So why build a new stablecoin when USDC already exists? The answer has less to do with the dollar and more to do with where it lives.
USDC exists on many chains at the same time. A trader holding it on Solana and another holding it on Base are effectively standing in different rooms.
Getting them into the same room requires moving funds across networks. That adds steps, cost and delay to every trade.
USTX is tx’s attempt to gather those dollars into one pool. Once USDC from different chains is converted, it becomes a single native balance on the tx chain.
The second goal is simultaneous settlement. The asset and the payment change hands at the same moment, on the same chain.
Outsourcing the issuer role
Tx is not issuing USTX itself. It is relying on Brale to handle issuance, reserves and the regulated side of the operation.
The design also keeps USDC as the on-ramp. Rather than asking users to trust a brand-new dollar from scratch, tx is letting them convert a stablecoin they already hold, with a path back out through redemption.
What this means
Several milestones are worth tracking from here. The first is whether the October 2026 launch lands on schedule after the pre-launch testing phase.
The second is the rollout of the remaining four minting networks beyond Ethereum, Base, Polygon and Solana. Each added chain widens the funnel of USDC that can flow into the tx chain.
The third is the monthly attestation reports from Brale. They will show how much USTX is actually outstanding and whether the reserve mix of bank deposits, government money market funds and short-term Treasury bills holds steady.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.