frxUSD
frxUSD
active
Rwa Backed
USD
Market Cap $133M
frxUSD is a stablecoin by Frax Finance, fully backed by tokenized U.S. Treasury assets, ensuring a 1:1 USD peg.
Key Data
| Backing | Tokenized U.S. Treasury assets including BlackRock's USD Institutional Digital Liquidity Fund, Superstate's USTB, WisdomTree's WTGXX, and Bridge's USDB. |
| Redemption | Users can mint and redeem frxUSD on a 1:1 basis using approved collateral such as USDC, PYUSD, USDT, USDB, and tokenized treasuries. Redemptions are processed intra-business day or by the next business day. |
| Peg Currency | USD |
| Launched | 2025 |
Supported Networks
Cross-Chain Supply (DefiLlama · $131M total)
Use Cases
Defi CollateralTradingPayments
Overview
frxUSD is a stablecoin launched by Frax Finance in January 2025, designed to maintain a stable value pegged to the USD.
How It Works
frxUSD operates on a 1:1 backing mechanism with tokenized U.S. Treasury assets, including BlackRock's USD Institutional Digital Liquidity Fund.
Reserve Backing
The reserves consist of cash, U.S. Treasury bills, and repurchase agreements, ensuring full backing for each frxUSD token.
Supported Networks
frxUSD is live on over 20 blockchain networks, including Ethereum, Arbitrum, BSC, Optimism, Avalanche, Polygon PoS, Polygon zkEVM, zkSync, and Tron.
Other USD Stablecoins
Data source: CoinGecko ↗