Can the USDX (USDX) stablecoin profit from Money Transfers?

They built USDX (USDX) stablecoin to make instant money transfers through the USDX Wallet possible.

USDX’s builders, the Lighthouse Blockchain Group GmbH, claim the USDX Wallet can make “instant transfers without banks, borders, or fees.” They built the USDX Wallet as a seamless and secure way to make lighting-fast, no-fee transactions.

For example, the USDX wallet is a mobile app that lets anybody set up a USDX account. USDX encrypts user data and stores it with tow-factor authentication. Users can send peer-to-peer payments to a phone number of OR code with USDX.

Is USDX (USDX) faster than Visa and MasterCard combined?

Lighthouse claims the USDX Wallet blockchain can process 100,000 transactions per second (TPS) or more than the speed of MasterCard (MA) and Visa (V) combined. MasterCard claims its payments platform can process up to 5,000 TPS, CoinTelegraph claims.

In contrast, Visa (V) claims its platform can process up to 24,000 TPS. However, Visa Chief Financial Officer Vasant Prabhu boasts his company’s network can process up to 65,000 transactions per second, CoinTelegraph claims.

So on paper, the USDX wallet is faster than MasterCard and Visa. I calculate Visa and MasterCard process 29,000 or 70,000 TPS while Lighthouse claims USDX can process up to 100,000 TPS. Note some blockchain solutions claim to be even faster. For example, the Lighting Network builders claim their system can process up to one million transactions per second.

These claims show USDX is a scalable system. Scalable means they can expand USDX to serve enormous numbers of customers and millions of payments.

The USDX Stablecoin

USDX Wallets pay with USDX (USDX), a stablecoin built by Lighthouse Blockchain Group GmbH. Lighthouse claims USDX could make sending stablecoin payments as easy as messaging or Venmo payments.

Venmo, owned by PayPal (PYPL) is an enormous success. For example, Venmo processed $230 billion in payments in 2021, a 44% increase over 2020, Business of Apps estimates. The Venmo payment volume was $159 billion in 2020 and $101 billion in 2019.

Additionally, Venmo generated $850 million in revenues in 2021, an 88% increase over 2020. Venmo generated $50 million in revenue in 2020. Currently, Venmo has over 70 million users in the United States.

The USDX currency is a stablecoin they peg to US Dollar. Each USDX stablecoin contains a smart contract that makes payment in US Dollars when you spend it. They back the USDX with the LightHouse Token (LHT).

USDX and the LHT Stablecoin

The LHT is USDX’s core cryptocurrency, which serves as collateral for the USDX stablecoin. Lighthouse claims, the USDX stablecoin is over-collateralized by a rate of 200%.

The Lighthouse Token was CoinMarketCap’s 2,298th largest cryptocurrency, with a Coin Price of $0.001114 on 5 September 2022. CoinMarketCap gave LHT Market Capitalization of $55,693, a Fully Diluted Market Cap of $1.114 million and a $4 24-Hour Market Volume. They base numbers on a Circulating Supply of 50 million LHT and a Total Supply of 1 billion LHT.

Hence, they collateralize the USDX with a questionable asset. Consequently, many people will question the USDX Token’s value.

What Value does the USDX Token Offer?

USDX was CoinMarketCap’s 17th most trending on 4 September 2022. Conversely, USDX (USDX) was CoinMarketCap’s 250th largest cryptocurrency on 7 September 2022.

CoinMarketCap gave USDX a 94.43 ₵ Coin Price on 7 September 2022. Hence, USDX’s Coin Price is lower than $1 US, which makes it an unstable stablecoin. CoinMarketCap gave USDX a $105.203 million Market Capitalization, a Fully Diluted Market Cap of $101.298 million, and a $255,337 24-Hour Market Volume. They based those numbers on a 111.567 million USDX Circulating Supply and a Total Supply of 107.527 million USDX.

In contrast, CoinBase gave USDX a 94₵ Coin Price, a $105.6 million Market Cap, and a 24-Hour Market Volume of $256,068.85 on 7 September 2022. They base those numbes on a Circulating Supply of 111.6 million USDX. CoinBase shows USDX is a volatile stablecoin by giving it an all time Coin Price of $3.90.

I think USDX is an interesting stablecoin that could find an enormous market because they build it for payments. In particular, I think the USDX could become an effective payment solution for games or e-commerce. That could give USDX access to a mass market and the ability to generate enormous amounts of revenue.

If you are seeking a stablecoin with genuine growth potential? I think USDX (USDX) is worth examining.