Solstice USX (USX) is a crypto-backed US dollar stablecoin. It has about $212M in circulation, ranking #36 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
What is USX?
Solstice USX (USX) is a crypto-backed US dollar stablecoin. It has about $212M in circulation, ranking #36 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
In the issuer's words: Solstice USX is a synthetic stablecoin protocol built on Solana.
USX supply history
USX supply fell 10.9% over the past 30 days, to $212M. Its peak was $523M in July 2026, and supply is 60% below that high.
Is USX holding its peg?
USX is trading within 0.5% of its target, which is normal for a healthy stablecoin.
Where USX lives: supply by blockchain
Supply is concentrated: Solana holds 100% of all USX. Moving it to another chain means bridging, or a mint and redeem through the issuer.
How USX is backed
USX is minted against crypto collateral locked in smart contracts, usually worth more than the stablecoins issued, with liquidations or hedges protecting the peg.
Minting and redemption: Direct Minting and Redemption of USX is reserved for KYC’d institutional investors who deposit USDC or USDT into the Solstice Protocol. Non-KYCd users can access USX permissionlessly via leading DEXs or via the Solstice Platform.
Reserve reports and audits: storage.googleapis.com
USX risks
A sharp crash in the crypto collateral can outrun liquidations and leave the system under-backed.
Bugs, governance attacks or bad price feeds can drain collateral or trigger wrongful liquidations.
Rules such as the US GENIUS Act and the EU's MiCA can restrict which stablecoins exchanges list in a given country.
USX vs USDT and USDC
Similar crypto-backed stablecoins
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USX FAQ
What is USX?
Solstice USX (USX) is a crypto-backed US dollar stablecoin. It has about $212M in circulation, ranking #36 among the stablecoins CoinScoop tracks, and runs on 1 blockchain.
Is USX pegged 1:1 to the US dollar?
USX targets 1 USD. At the last update it traded at $0.9992, a deviation of -0.08%, which we classify as "on peg".
What backs USX?
USX is a crypto-backed stablecoin. USX is minted against crypto collateral locked in smart contracts, usually worth more than the stablecoins issued, with liquidations or hedges protecting the peg.
Which blockchains is USX on?
USX is live on 1 blockchain. The largest by supply are Solana ($212M).
How much USX is in circulation?
About $212M of USX was in circulation at the last update, -10.9% over 30 days. That makes it the #36 stablecoin by supply among those we track.
Is USX safe?
No stablecoin is risk-free. As a crypto-backed design, USX's main risks are falls in collateral value that outpace liquidations, smart-contract and oracle failures, and, for hedged designs, negative funding rates or exchange counterparty risk. It currently shows "on peg" on our peg monitor. This page is information, not investment advice.