**News Flash: USDX Stablecoin Debuts on Flare Network**

The Flare Network has launched USDX, a new stablecoin backed 1:1 by the US dollar, developed by HT Digital Assets. This move comes amid regulatory pressures on existing stablecoins like Tether (USDT). USDX aims to be a key player in decentralized finance (DeFi), serving as both a stablecoin and gas token within the Flare ecosystem.

USDX is fully backed by cash and short-term Treasury bills, held securely by top-tier financial institutions. It offers yield generation through Clearpool's T-Pool, providing rewards without lock-up periods. Despite its potential, USDX faces competition from established coins like USDC and regulatory challenges.