About Fraxnet
Fraxnet is a cross-chain interoperability layer purpose-built by Frax Finance to enable trust-minimized minting and redemption of frxUSD across supported networks and financial institutions:
- Fraxnet uses proven cross chain messaging standards like LayerZero ↗ (opens in a new tab) and CCTP ↗ (opens in a new tab) in order to facilitate the seemless transfer of assets across a plethora of chains.
- Built for protocol-native bridging, Fraxnet contracts allow users to mint and redeem natively across chains without custodial or synthetic bridges. The assets on destination chains are canonical, fungible, and redeemable 1:1.
- Users of Fraxnet have the ability to complete KYB/KYC and participate in revenue share from the T‑Bill yield that compliant stablecoins backed under the GENIUS Act ↗ (opens in a new tab) must hold as reserves, allowing them to earn passive returns in alignment with regulatory standards (e.g. short-term U.S. Treasury bills) while maintaining trust‑minimal, legally compliant collateral.
- Users who complete KYB/KYC will be able to redeem frxUSD directly to their linked U.S. bank accounts via ACH wire, enabling seamless, on-chain-to-off-chain conversion of tokenized dollars into traditional fiat—bridging DeFi and regulated financial infrastructure.