LitFinancial, a mortgage lender, has launched a stablecoin litUSD on Ethereum to streamline the mortgage process
2025-09-10 15:48:57
LitFinancial, a Michigan-based mortgage lender, has launched its dollar stablecoin, litUSD, on the Ethereum blockchain. The company said it plans to use the token to reduce funding costs, optimise money management operations and explore on-chain settlement of mortgage payments. The stablecoin, called litUSD, is deployed as an ERC-20 token on the Ethereum blockchain and is backed 1:1 by cash in reserve and cash equivalents. Brale handles the issuance and redemption management of the tokens, while Stably, a consultancy, provides token economics support and facilitates its integration with DeFi. Consumers can mint and redeem litUSD via a bank transfer or Circle's USDC stablecoin via Brale's certified corporate account.
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