Gate News Report, March 9 — Sonic Labs announced the launch of its native, permissionless US dollar stablecoin USSD (US Sonic Dollar) on the Sonic network. The stablecoin is built on Frax’s GENIUS-compatible frxUSD infrastructure, combining on-chain permissionless usability with institutional-grade asset backing. Currently, USSD is live on Sonic and supports cross-chain minting from over 10 different chains. The reserves backing USSD are supported 1:1 by dollar assets, including tokenized products such as BlackRock’s BUIDL (the world’s largest asset management firm), Superstate’s USTB, and WisdomTree. Users can mint USSD at a 1:1 ratio by depositing assets like USDC, USDT, or PYUSD through non-custodial smart contracts with zero fees. The yields generated by the underlying assets of USSD will flow back into the Sonic network to support buybacks and ecosystem incentives.
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