Frax USD frxUSD

Ethereum · Decentralized Finance · Ethereum Ecosystem · Stablecoins · USD Stablecoin

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frxUSD is a USD-pegged stablecoin issued by Frax Finance. It is used for payments, DeFi collateral, and cross-chain transactions across multiple blockchains. The stablecoin uses a hybrid model with governance-approved enshrined custodians who mint and redeem frxUSD by holding tokenized treasury reserves, allowing real-world entities to custody backing assets while maintaining onchain mechanisms.