Frax Finance is a decentralized finance protocol specializing in stablecoins, including frxUSD, which is backed by BlackRock's USD Institutional Digital Liquidity Fund.
| Product | Backing | Status | Market cap |
|---|---|---|---|
| FRXUSDfrxUSD | Rwa Backed | Active | $101M |
| Founded | 2020 |
| Headquarters | Las Vegas, Nevada |
| Stage | DAO |
| Ticker | FXS |
| CEO | Sam Kazemian |
| Founders | Sam Kazemian, Travis Moore, Jason Huan, Stephen Moore unverified |
| Key events | Date 2019-01 · Event Protocol development began (developed 2019, launched 2020)Date 2020-12 · Event Launched FRAX, the first fractional-algorithmic stablecoinDate 2025-01 · Event Launched frxUSD, fully collateralized replacement for FRAX, backed by BlackRock BUIDL |
| Website | https://frax.finance |
Frax Finance is a decentralized finance (DeFi) protocol that focuses on stablecoins and blockchain solutions. It operates without a traditional legal entity structure and is led by its founder, Sam Kazemian. As a decentralized protocol, Frax Finance does not hold traditional regulatory licenses but has partnered with Securitize to enhance compliance and transparency.