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.
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BlackRock’s BUIDL approved as backing token for Frax USD stablecoin
theblock.coJan 2025
Securitize Proposes BUIDL Token as Collateral for Frax USD Stablecoin
cryptonews.comDec 2024
Securitize proposes BlackRock BUIDL fund as collateral for Frax USD
cointelegraph.comDec 2024
Securitize proposes adding BlackRock’s BUIDL token as Frax USD stablecoin backing
theblock.coDec 2024