TROY, Mich.--(BUSINESS WIRE)--LitFinancial (“Lit”), a regulated mortgage lending FinTech, announced the official launch of litUSD, a U.S. dollar-backed stablecoin, in partnership with Brale, a stablecoin-as-a-service platform, and Stably, a stablecoin advisory firm. Built on the Ethereum blockchain, litUSD is designed to modernize traditional lending models, streamline treasury operations, and increase transparency across mortgage finance—all while remaining fully compliant with the GENIUS Act.
litUSD is issued as an ERC-20 token by Brale, a FinCEN-registered money services business. Each token is fully backed 1:1 with cash and cash equivalents held in reserve, ensuring stability and security. Minting and redemption are available through bank transfer or USDC via verified Brale business accounts.
Since its founding in 2024, Lit has grown rapidly, now employing more than 100 professionals at its Troy, Michigan headquarters. Its leadership team brings decades of experience in real estate, FinTech, and blockchain, including roles at Rocket Mortgage, Coinbase, and Draper Goren Blockchain. With this momentum, the company projects an annual mortgage origination run-rate of more than $1 billion by 2026.
At launch, Lit will use litUSD to improve treasury efficiency and reduce its cost of capital. The company also intends to settle mortgage payments on-chain, a move that would create publicly verifiable loan performance records and unlock new transparency and liquidity in the secondary mortgage market.
“Stablecoins are rapidly becoming an essential tool for modern treasury operations,” said Tim Barry, CEO of LitFinancial. “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.”
Brale, the regulatory and technical partner behind litUSD, currently serves as the convertible virtual currency administrator. “The launch of litUSD demonstrates how regulated financial institutions can adopt stablecoin technology within clearly defined legal frameworks like the GENIUS Act,” said Ben Milne, CEO of Brale. “This model sets a precedent for traditional companies seeking financial efficiency and growth.”
Seattle-based Stably, an advisory and stablecoin development firm, has supported the initiative with strategy, token economics, launch execution, and DeFi integration. “litUSD is here to change how credit is priced and delivered,” said Kory Hoang, CEO of Stably. “Eliminating payment friction is important, but reducing the cost of credit with stablecoins is where transformation truly begins.” litUSD is now live and available for minting and redemption through Brale’s platform.
About LitFinancial
LitFinancial is a US-regulated FinTech mortgage broker/lender based in Troy, Michigan (NMLS #2553292). Founded in 2024, the company is led by mortgage and real estate veterans with more than two decades of industry experience. The Lit team has grown to over 100 members, including 65 licensed loan officers—with expanded operations across 35 U.S. states.
About Brale
Brale is a FinCEN-registered money services business based in Des Moines, Iowa (NMLS #2376957). Brale serves as the convertible virtual currency administrator of its client stablecoins. Founded in 2022, the company provides a regulatory-compliant stablecoin-as-a-service platform for businesses to launch branded stablecoins in a matter of days—with full support for token issuance, funds processing, and KYC/AML screening.
About Stably
Stably is a stablecoin development and advisory firm based in Seattle, Washington. The company specializes in helping institutions and enterprises create their own brand of digital money, tailored to their specific business models. Founded in 2018, Stably was among the world’s earliest stablecoin issuers and has since supported the launch of more than 16 stablecoin projects.
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