sUSDX, issued by Stable Company [S1], is tokenized staked-stablecoin interest representing staked USDX, a U.S. dollar (USD) stablecoin backed by a reserve portfolio of U.S. residential mortgages, agency mortgage-backed securities (MBS), and liquid reserves [S2].

Holders receive a non-rebasing token whose value rises as the reserve portfolio accrues yield, sourced from agency MBS coupon income, whole mortgage loan interest, tokenized mortgage interest, and liquid reserve returns, net of protocol fees [S2][S3]. Yield accrues to the staked pool in USDX and compounds daily, increasing each token's redemption value rather than its quantity [S4]. Minting on the permissionless path costs 10 basis points, and USDC redemption costs 50 basis points [S5][S6].

Stable Company operates the offchain components and controls reserve assets through a bankruptcy-remote special purpose vehicle, targeting portfolio collateralization of at least 102% [S1][S7]. The issuer characterizes USDX as a payment stablecoin that is not a security and confers no claim on profits, governance rights, or residual value [S8]. Institutional minting and redemption require KYC, KYB, AML monitoring, and sanctions screening, with sanctioned addresses blocked from minting, redemption, and staking [S8]. Default redemption settles within seven days; expedited redemption settles within one to three business days, and extended settlement may reach 45 days during collateral stress [S5]. Agency MBS reserves are held by qualified custodians in segregated accounts [S7].

USDX is deployed on Ethereum, Base, Solana, and Monad, while the staked token is currently issued on Solana [S9]. Users stake USDX to mint the staked token at the prevailing exchange rate, and unstaking activates a seven-day cooldown before withdrawal [S4]. The protocol publishes a daily onchain attestation reporting the collateralization ratio and aggregate reserve book value, serving as the canonical reserve-status oracle [S10].

<Sources
  retrievedAt="2026-06-30"
  items={[
    { id: "S1", url: "https://docs.trystable.co/usdx-whitepaper/system-overview.md" },
    { id: "S2", url: "https://docs.trystable.co/stable-docs/usdx.md" },
    { id: "S3", url: "https://docs.trystable.co/usdx-whitepaper/musdx-staked-usdx.md" },
    { id: "S4", url: "https://docs.trystable.co/stable-docs/usdx/staking-usdx.md" },
    { id: "S5", url: "https://docs.trystable.co/usdx-whitepaper/mint-and-redeem.md" },
    { id: "S6", url: "https://docs.trystable.co/stable-docs/usdx/redeeming-usdx.md" },
    { id: "S7", url: "https://docs.trystable.co/usdx-whitepaper/collateral-framework.md" },
    { id: "S8", url: "https://docs.trystable.co/usdx-whitepaper/regulatory-framework.md" },
    { id: "S9", url: "https://docs.trystable.co/stable-docs/usdx/usdx-contract-addresses.md" },
    { id: "S10", url: "https://docs.trystable.co/usdx-whitepaper/technical-architecture.md" },
  ]}
/>


Tokenized funds

Users deposit funds and receive USDX at a 1:1 rate; staking USDX into sUSDX accrues yield via an increasing exchange rate.

Stable (trystable.co) is a stablecoin issuer bringing the U.S. dollar onchain via USDX, with native deployment on Solana.

Stable is the issuer of USDX, a U.S. Dollar-pegged stablecoin, and sUSDX, its yield-bearing staked version.

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Stablecoin issuers

Stable

Stable Staked USDX (sUSDX) is a tokenized fund share issued by Stable through Stable Company.

Each token is a direct claim on the issuer.

The fund is open-ended and invests in U.S. multi-asset.

Retail investors, professional investors, accredited investors, qualified investors, qualified purchasers, and institutions can subscribe and redeem in USDX, and holders have a right to redeem at net asset value with monthly settlement.

Holder terms are governed by the law of Delaware in the United States.

sUSDX has been issued on Solana as a SPL Token token since April 2026.

Staked USDXsUSDX

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