Sonic Labs launches USSD stablecoin backed by tokenized Treasuries products from BlackRock, WisdomTree, and Superstate via Frax infrastructure.
DeFi & Yields ·
Sonic Labs has launched USSD, a stablecoin backed by tokenized Treasury products from BlackRock, WisdomTree, and Superstate, built on Frax infrastructure. The arrangement leverages institutional tokenized assets to collateralize the native network stablecoin, positioning these three asset managers as key backing partners.
The stablecoin operates as a means for Sonic to integrate real-world assets directly into its blockchain ecosystem. By tying USSD to Treasury-linked products from established institutions, the arrangement aims to combine blockchain infrastructure with traditional financial assets, potentially offering users exposure to yields from institutional-grade securities.
It remains unclear whether additional collateral sources or backing mechanisms support USSD beyond the three named Treasury product providers, or what specific regulatory framework governs the stablecoin's issuance and redemption. The mechanics of how redemptions work across these multiple institutional partners have not been detailed.