According to Techub News, Hong Kong cryptocurrency custody company Hex Trust has issued stablecoin USDX on Layer1 blockchain Flare.

USDX becomes the first native stablecoin on Flare. It will be available in lending protocols and trading platforms, and also has a pledge mechanism for a dedicated T-Pool created by the decentralized credit market Clearpool. The ratio of this stablecoin to the US dollar or equivalent assets is 1:1. USDX pledgers will receive RWA yields and cUSDX in return.