USDX, issued by the usdx.money Protocol smart contracts under the governance of the USDX protocol team, is a synthetic U.S. dollar (USD) stablecoin that holds an approximate one dollar value through an automated delta-neutral hedging strategy. [S1][S2]

USDX references the U.S. dollar (USD) and is collateralized by a portfolio of digital assets, with spot long positions counterbalanced by short perpetual futures matched to underlying size and run without leverage, so dollar value persists regardless of asset price moves. [S2][S3] Holders earn by staking USDX into an ERC-4626 vault to receive sUSDX, whose USDX value appreciates from funding-rate and basis-spread yield rather than rebasing. [S4][S5] An execution cost is deducted at mint. [S2]

The issuer is identified only by the trade name Stables Labs, operating the usdx.money protocol, and is not issued by a single corporate entity. [S1][S2] The product is presented as a bankless, decentralized, crypto-native synthetic stablecoin, with sUSDX an ERC-4626 vault share representing proportional ownership of staked USDX plus accrued yield. [S1][S4] Direct minting and redemption are restricted to approved entities from eligible jurisdictions that pass KYC and KYB screening and are whitelisted. [S2] Whitelisted entities redeem USDX into Tether (USDT), with one documented seven-day settlement, while backing assets are held onchain and offchain via an Off Exchange Settlement provider, custody delegated but never transferred to derivatives exchanges. [S2]

USDX is an ERC-20 token and sUSDX is an ERC-20 and ERC-4626 vault token, issued onchain on supported public networks. [S6][S4] Minting deposits USDT, USD Coin (USDC), or USDe to receive USDX near one-to-one, routing backing assets to Off Exchange Settlement for the hedge. [S2] Peg alignment to the U.S. dollar uses RedStone stablecoin price feeds. [S7]

<Sources
  retrievedAt="2026-06-22"
  items={[
    { id: "S1", url: "https://docs.usdx.money/" },
    { id: "S2", url: "https://docs.usdx.money/a-synthetic-usd/usdx-basics" },
    { id: "S3", url: "https://docs.usdx.money/a-synthetic-usd/delta-neutral-stability.md" },
    { id: "S4", url: "https://docs.usdx.money/a-yield-bearing-token/staking-usdx" },
    { id: "S5", url: "https://docs.usdx.money/a-yield-bearing-token/yield-explanation" },
    { id: "S6", url: "https://docs.usdx.money/informaiton/contracts" },
    { id: "S7", url: "https://docs.usdx.money/informaiton/oracles" },
  ]}
/>


Stablecoins

Stables Labs operates by developing blockchain-based protocols and infrastructure that support stablecoin issuance, management, and integration across decentralized finance ecosystems. The company likely generates revenue through protocol fees, licensing of their stablecoin technology, and providing infrastructure services to other DeFi projects and financial institutions seeking to implement or integrate stablecoin solutions.

The project builds advanced stablecoin infrastructure solutions, offering decentralized financial tools and protocols that enable more efficient, scalable, and robust digital currency systems. Their platform appears to center around USDX and related stablecoin technologies that leverage blockchain networks to provide enhanced stability mechanisms and cross-chain functionality.

Stables Labs is a blockchain infrastructure company focused on developing next-generation stablecoin technology and related financial primitives.

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Real-world asset (RWA) issuers

Stables Labs

Stables Labs USDX (USDX) is a U.S. dollar stablecoin issued by Stables Labs.

Each token is a collateral-backed contractual exposure rather than a direct claim on the issuer.

Institutions can mint and redeem directly with Stables Labs in USDT, USDC, and USDe after completing KYC.

USDX has been issued on public blockchains since March 2024 and is native to Arbitrum One, BNB Chain, Ethereum, and Base.

Stables Labs USDXUSDX

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