- Solstice Finance partners with Chainlink, Ceffu, and Copper to launch USX, a synthetic stablecoin on Solana
- Chainlink’s CCIP and Proof of Reserve will power cross-chain transfers and on-chain collateral verification
- Ceffu and Copper provide institutional-grade custody with off-exchange settlement for large traders
Solstice Finance is gearing up to drop its new synthetic stablecoin, USX, on the Solana network — and it’s not going solo. The DeFi protocol announced fresh partnerships with Chainlink, Ceffu, and Copper, bringing together data feeds, cross-chain tech, and institutional custody under one roof. The project aims to build more than just another dollar-pegged token; USX is being positioned as a cross-chain, institution-friendly stablecoin that fits into Solana’s growing financial stack.
Chainlink Powers Interoperability
At the core of the design is Chainlink’s Cross-Chain Interoperability Protocol (CCIP), which will let USX flow across multiple blockchains without sacrificing security. That’s a big deal since interoperability is becoming the next competitive edge in stablecoin markets, much like Circle’s own cross-chain transfer protocol. To keep everything transparent, Solstice is also tapping Chainlink’s Proof of Reserve, a system that provides ongoing, verifiable checks on the collateral backing USX. It’s a move meant to boost trust while catering to stricter investor expectations.
Custody Partners Target Institutions
Ceffu and Copper, both known names in institutional custody, are stepping in to provide off-exchange settlement for professional traders. The model lets firms trade actively while still keeping their assets locked safely with third-party custodians, reducing counterparty risk. Though this approach sacrifices some decentralization, it answers a real demand among big traders who want security without giving up liquidity. Venture firm Arcanum has also joined in as an advisor, shaping the token’s economic structure to fit professional market standards.
Solana’s Institutional Push
Solstice, which is backed by Deus X with more than $1 billion under management, sees USX as a new pillar in Solana’s DeFi ecosystem. The token will be collateralized by major stablecoins like USDT and USDC, and it won’t stop there — Solstice plans to roll out a YieldVault to generate returns through trading strategies. With USX, Solana could gain another tool for onboarding institutional capital, while giving retail users a new way to earn and move value across chains.
