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I'm transitioning my purely XLM based app to having USD as a deposit, exchange or withdrawal option. Once the USD is deposited, I'll issue a USD token to track that value.

How should the exchange on the Stellar dex between my USD token and real XLM be done? Should I maintain an exclusive fund of XLM (iow, I'm the only buyer of my USD token)? When they want to withdrawal USD, do they need to submit their bank details to me for me to manually transfer from my fiat holding account that backs the USD token?

If the answer to the last two questions is yes, I will be the central reserve for all exchanges, which is more centralized than I want to be. Do there exist alternative approaches that are more distributed?

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One alternative could be to integrate with an existing USD anchor (e.g. AnchorUSD). Ecosystem standards like SEP-0024: Interactive Anchor/Wallet Asset Transfer Server (alongside SEP-0010 & SEP-0012) allow you to implement the deposit / withdrawal flow for an anchor within your application. The two resources I would recommend for this are the SEP itself and https://diagrams.stellar.org/ to see how this flow looks in diagram form.

Wallets that have a similar implementation are Lobstr, Solar Wallet, and Vibrant.

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