Fiet Protocol

Fiet, from Usher Labs, is a decentralised protocol facilitating market-driven exchange between verified fiat liquidity and permissionless stablecoins across multiple currencies. It targets low-cost swaps from non-USD fiat to USD stablecoins, using peer-to-peer on- and off-ramps with licensed institutions and dynamic on-chain incentives tied to supply and demand for verified fiat reserve liquidity. Built on Uniswap v4, this efficient exchange connects to broader cryptocurrency markets, generating yield via arbitrage and liquidity provision while supporting competitive crypto-backed FX.