What can you do with USDX?

Could you elaborate on the potential uses and applications of USDX in today's cryptocurrency and financial landscape? As a professional practitioner in this field, I'm curious to understand how this digital asset could potentially be utilized. For instance, could it be used as a stablecoin to facilitate cross-border payments? Or, does it have any unique functionalities that enable it to serve as a collateral for decentralized finance (DeFi) applications? Furthermore, what are the potential risks and considerations one should take into account before investing in USDX? I'd appreciate your insights on these aspects.