apxUSD is a synthetic dollar protocol launched in 2026 by Apyx, designed to maintain a $1 peg while being backed by a diversified basket of dividend-bearing preferred shares issued by Digital Asset Treasury (DAT) companies. Unlike conventional stablecoins backed by cash or short-term Treasuries, apxUSD separates stability and yield: apxUSD itself is the non-yielding stable asset, while apyUSD is the yield-bearing wrapper that captures dividend income from the collateral basket.