Clear, one of Brazil’s largest trading-focused brokerages and part of the XP Inc. group, has launched USDXP, a proprietary stablecoin backed 1:1 by the U.S. dollar. Available now to Clear clients, USDXP is designed to provide 24/7 on-platform U.S. dollar exposure for trading, hedging, and diversification, with instant execution integrated into the Clear experience.
Developed as a simple and efficient alternative for clients seeking dollar exposure, USDXP is fully integrated into the Clear experience and structured to be accessed without additional platform fees, allowing clients to manage FX exposure alongside their broader portfolios within the same environment.
“USDXP was created to address a clear customer pain point: simple, efficient, and transparent access to U.S. dollar exposure,” said Lucas Rabechini, Director of Financial Products at XP Inc. “It’s a solution designed for those who trade, want to hedge, or diversify, without friction and with the seamless experience that is already part of Clear.”
USDXP’s reserved are held in U.S. dollars in U.S.-dollar accounts at international financial institutions. The token is used on the Rayls blockchain network, developed by Parfin, which provides infrastructure for institutions to issue and manage proprietary stablecoins. Governance, custody, and full responsibility for the product remain under XP Inc.’s control.
“Stablecoin adoption in financial markets is still in its early stages, and infrastructure will determine how responsibly this market scales,” said Marcos Viriato, Co-Founder and CEO of Parfin. “Clear’s launch of USDXP on Rayls’ reinforces the direction the industry is taking, offering digital assets with strong controls, traceability, and institutional-grade security, while keeping accountability with the issuer.”
Unlike volatile cryptoassets, USDXP is a fiat-backed stablecoin structured specifically to provide FX exposure within the Clear platform, in line with Brazil’s current regulatory frameworks. In this initial phase, USDXP does not allow external transfers, payments, or off-platform use. The product’s structure was designed to prioritize stability, operational clarity, and control, contributing to legal and operational security for platform-based transactions.
USDXP also marks the beginning of Clear’s proprietary digital currency strategy. Over time, Clear plans to expand its portfolio with additional currency-backed digital assets, including the euro and the pound, subject to product development and regulatory considerations.
Rabechini added that USDXP marks the start of a broader strategy to develop proprietary digital currencies, aligned with regulatory evolution and the strengthening of Clear’s FX business unit. The initiative expands Clear’s solution portfolio and supports a responsible rollout of additional currency exposures with simplicity and low cost, backed by the same rigorous governance standards applied across the XP Inc. ecosystem.
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Image Credits: XP Inc, Canva
