Frax USD

About Frax USD

Frax USD (frxUSD) is a fiat-redeemable, fully-collateralized stablecoin issued by the Frax Finance Protocol. It operates using a hybrid model where governance-approved enshrined custodians mint and redeem frxUSD backed by cash-equivalent reserves, while advanced onchain mechanisms developed by the Frax Finance Protocol ensure stability, security, and seamless usability across DeFi and traditional financial systems.

• Frax USD is fully collateralized by cash-equivalent reserves, distinguishing it from algorithmic stablecoins.
• It is issued by the Frax Finance Protocol, which also governs the enshrined custodians responsible for minting and redemption.
• The stablecoin is designed for seamless usability across both DeFi and traditional financial systems.
• Frax USD is supported on a wide range of blockchain ecosystems, including Ethereum, Solana, BNB Chain, and many others.