Sonic Labs launches native stablecoin USSD
ChainCatcher news, according to market sources, Sonic Labs has officially launched its native stablecoin USSD, which is backed by US Treasury reserves and positioned as the core stable liquidity source for the Sonic network.
USSD is built on Frax's frxUSD stablecoin infrastructure, with reserve assets consisting of tokenized Treasuries provided by BlackRock, WisdomTree, and Superstate. Users can mint USSD at a 1:1 ratio with USDC and redeem it for USDC via chains supporting CCTP. Compliant users who meet KYC/AML requirements can also directly exchange the stablecoin for US dollars to their bank accounts. Samuel Harcourt, a core contributor at Sonic Labs, stated that USSD is a foundational initiative in their vertical integration plan, aiming to introduce institutional-grade yields and establish external revenue sources beyond the S token.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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