USX, issued under the USX.Capital brand and hosted on the Scroll network stewarded by Scroll Foundation, is a fully collateralized stablecoin pegged 1:1 to the U.S. dollar (USD) and redeemable 1:1 for USD Coin (USDC) [S1].

USX tracks the U.S. dollar at a 1:1 peg, fully collateralized and always redeemable 1:1 for USD Coin (USDC) [S1][S2]. The base USX token bears no yield; tokenholders stake USX to receive sUSX, a yield-bearing token targeting an estimated 10 to 15% APY generated through risk-managed onchain and offchain strategies executed non-custodially via Blend across protocols such as Morpho vaults, with an onchain reserve fund absorbing strategy losses before they reach sUSX holders [S1][S2].

Scroll Foundation, a Cayman Islands foundation company governed by a Board of Directors, acts as steward of the Scroll DAO, while USX is operated under the separately branded USX.Capital [S3][S1]. The holder's claim is a redeemable digital-dollar token convertible 1:1 into USDC [S1]. During the pre-deposit campaign there is no minimum deposit, operating first-come, first-served and accepting USDC only [S1]. USX is fully redeemable 1:1 for USDC over a 14-day direct-redemption period, with instant exit available through liquidity pools [S1][S2]. User funds are isolated in individual non-custodial Smart Accounts using Gnosis Safe with the user as sole signer, and an onchain reserve fund acts as an insurance buffer [S1].

USX is native to Scroll, a zkEVM Ethereum Layer 2, with cross-chain availability provided via LayerZero from launch [S1][S4]. Tokenholders mint USX 1:1 against USDC and redeem 1:1 for USDC [S1]. A transparency dashboard reflects principal and yield, and audited reserve reports are generated every two weeks and shared with users; pre-deposit contracts were audited by Zellic [S1].

<Sources
  retrievedAt="2026-06-23"
  items={[
    { id: "S1", url: "https://scroll.io/blog/usx-pre-deposits" },
    { id: "S2", url: "https://scroll.io/blog/quill-x-scroll" },
    { id: "S3", url: "https://scroll.io/gov-docs/content/what-is-scroll-foundation" },
    { id: "S4", url: "https://scroll.io/blog/etherfi-cash" },
  ]}
/>


Stablecoins

Scroll batches users' transactions and submits them to Ethereum, paying a share of the transaction fees to Ethereum validators (expense).

Scroll is an L2 smart contract platform for decentralized applications on Ethereum. Scroll was founded by Sandy Peng, Haichen Shen, and Ye Zhang and launched in 2023.

SCR tokenholders own and govern the protocol. Scroll's investors include Polychain, Qiming Venture Partners, etc.

github

twitter

discord

website

Blockchains (L2)

Scroll

Scroll USX (USX) is a U.S. dollar stablecoin issued by Scroll.

Holders can mint and redeem directly with Scroll in USDC, and holders have a contractual right to redeem at par.

USX has been issued on Scroll as an ERC-20 token since November 2025.

Scroll USXUSX