GSX has successfully settled over $350 million on-chain, primarily using U.S. dollar stablecoins, according to co-founder Ryan Kirkley. Despite this achievement, the company's pledged $125 million in settlement liquidity, including a $100 million gold-backed stablecoin commitment, remains unused. This liquidity is intended for future deployment once GSX completes its market-making infrastructure. The $125 million is described as committed financing, not yet active, with plans to deploy it after establishing the necessary market-maker entity. GSX has not disclosed specific corridors or counterparties, citing confidentiality. The firm is also positioning its gold-backed stablecoin as a complementary option to USD stablecoins, targeting countries between competing settlement blocs. GSX has joined the Canton Network as a public validator and deployed its compliance product, GSX ID, alongside major institutions like Goldman Sachs and Visa. The company remains focused on building its infrastructure, independent of the potential passage of the CLARITY Act, which could reshape U.S. digital-asset regulations.