Mortgage Provider LitFinancial To Issue Stablecoin LitUSD
Mortgage Provider LitFinancial To Issue Stablecoin LitUSD. Photo By Christopher Holmok On Unsplash.
LitFinancial has announced it is launching its own stablecoin LitUSD together with industry partners, according to its press release on BusinessWire.
The A rated U.S. based mortgage provider has revealed its plans to issue a native stablecoin $LitUSD, collaborating with Brale and Stably to handle the compliance and infrastructure of the issuance. The stablecoin will adhere to a 1:1 reserve with cash and liquid equivalents, and initially launch on Ethereum.
Recognizing the impact of this, CEO Tim Barry expressed:
“Stablecoins are rapidly becoming an essential tool for modern treasury operations. With litUSD, we’re building resilience and adaptability into our business model while pioneering how mortgage finance can evolve with blockchain technology. Everything has been intentional, especially building litUSD on ETH due to its stability, decentralized nature, and aligning with domestic policies.”
Adding to this, CEO Ben Milne highlighted that:
“The launch of litUSD demonstrates how regulated financial institutions can adopt stablecoin technology within clearly defined legal frameworks like the GENIUS Act. This model sets a precedent for traditional companies seeking financial efficiency and growth.”
LitFinancial will look to integrate stablecoin benefits across treasury and its existing lending programs including: Conventional Mortgages, FHA Loans, Jumbo Loans, VA Loans, Home Equity Loans, DSCR Loans, as well as Reverse Mortgages.
The state of the stablecoin market continues to invite legacy financial services to modernize their operations and bring new money rails for their customers, recognizing the opportunity to cut down settlement delays, fees, and counterparty risk when handling funds.
Note: This is intended for informational purposes only and does not in any way constitute or solicit financial, professional, or legal advice. Readers should conduct due diligence at all times.
This article has been partly researched and aggregated with the help of AI and does not pertain to be an exclusive story. For specific media and public information referenced, please find it below.
https://www.bbb.org/us/mi/troy/profile/mortgage-lenders/lit-financial-corporation-0372-90056735
