LitFinancial, a U.S. mortgage lender pioneering a stablecoin-powered mortgage model, is adopting the Cross-Chain Token (CCT) standard on Ethereum to make litUSD natively transferable across blockchains via CCIP.By adopting the Chainlink interoperability standard, @LitFinancial_ is unlocking RWA innovation & enabling a more efficient capital model for mortgage lending. ...

🚨 Mortgage lender LitFinancial has launched a U.S. dollar-backed stablecoin, litUSD, on Ethereum.Issued with @Brale_xyz and @Stably_Official, designed to cut treasury costs and bring transparency to mortgage finance.@sndr_krisztian reportshttps://t.co/S7KB3Si0aU ...

Company Overview - LitFinancial, a Michigan-based mortgage lender, has launched its U.S. dollar stablecoin, litUSD, on the Ethereum blockchain, aiming to reduce funding costs and enhance treasury management operations [1][3] - The company was founded in 2024 and employs over 100 staff, projecting an annual mortgage origination run-rate exceeding $1 billion by 2026 [5] Industry Trends - Stablecoins are gaining traction as a payment alternative, with projected payment volume reaching $1 trillion by 2030, driven by faster and cheaper transactions using blockchain technology [2] - The establishment of regulations for stablecoins in the U.S. has significantly boosted their mainstream adoption, particularly following the signing of the GENIUS Act by former President Donald Trump [2] Product Details - litUSD is an ERC-20 token backed 1:1 with cash and cash equivalents held in reserve, chosen for its stability and alignment with domestic policies [3] - The issuance and redemption of litUSD are managed by Brale, a FinCEN-registered money services business, while Stably supports token economics and integration with decentralized finance (DeFi) [4] Strategic Goals - LitFinancial aims to explore on-chain settlement of mortgage payments, which could enhance transparency in loan performance and reshape liquidity in the secondary mortgage market [1][3] - The CEO of LitFinancial emphasized that litUSD is designed to build resilience and adaptability into the business model while pioneering advancements in mortgage finance through blockchain technology [3]