Frax USD frxUSDPrice $ 0.99944

Historical events: In December 2024, Frax USD (frxUSD) and Staked Frax USD (sfrxUSD) were launched as new components of the Frax Finance ecosystem. There was an upgrade of the Frax stablecoin to frxUSD and sfrxUSD during the OP stack hardfork and contract update. Read more: https://gov.frax.finance/t/fip-419-launch-frax-usd-provide-upgrade-path-to-frax-stablecoin/3543

Frax USD is an upgraded modular stackablecoin in line with Frax Finance's vision of decentralization, stability and usability.

Five fiat redemptions: frxUSD will allow users to easily convert their assets into fiat currency through a partnership with Paxos. This feature bridges the gap between DeFi and traditional finance, making frxUSD more accessible and practical for everyday use.

Access to the Federal Reserve: Frax Finance, through its strategic partner FinresPBC, is working to establish direct access to the main account of the US Federal Reserve (FMA). This will bring frxUSD to the level of the safest stablecoin, offering its users unrivaled trust and stability.

Treasury bill integration: utilizing FinresPBC's existing access to Treasury bills, frxUSD will be further backed by trusted collateral, enhancing its reliability and expanding its reach.