frxUSD
frxUSD Overview

What is Frax USD (frxUSD)?

frxUSD is a secure, stable, and scalable digital dollar live on over 20 blockchain networks.

frxUSD is fully backed by bankruptcy-remote, tokenized U.S. Treasury funds, managed by financial leaders such as BlackRock, Superstate, and WisdomTree. These institutional-grade custody services allow frxUSD to be mintable and redeemable 1:1 for U.S. dollars at each partner institution.

Frax publishes regular transparency reports and reserve balance sheets for frxUSD holdings on Frax's Transparency page (opens in a new tab).

frxUSD: The Future of Stable Digital Money

Frax launched frxUSD to extend dollar access worldwide beyond the constraints of banking. By using public blockchain infrastructure, frxUSD delivers speed, safety, and efficiency that power meaningful improvements:

  • Fully backed by tokenized U.S. Treasury assets
  • Live on over 20+ blockchain networks
  • Available 24/7/365
  • Earn 4.1% APY from Treasury yields (subject to treasury backing performance)

How to access frxUSD

Minting frxUSD

Using FraxNet (opens in a new tab), access frxUSD to mint and redeem 1:1 using:

  • USDC
  • PYUSD
  • USDT
  • USDB
  • Tokenized treasuries (BUIDL, USTB, WTGXX)

Earning with frxUSD

Earn 4.1% APY from frxUSD's backing assets (Treasury bills) just by opening a FraxNet (opens in a new tab) account and holding frxUSD in your non-custodial wallet.

Alternatively, stake (opens in a new tab) frxUSD for sfrxUSD (Frax's savings product) to earn daily interest from tokenized institutional U.S. treasury fund reserves, Superstate's USCC, Ethena's USDe, and Sky's (formerly Maker) sUSDS.

To integrate frxUSD staking in your application, follow this quickstart.

Trading frxUSD

Get frxUSD on any decentralized exchanges:

Global Accessibility

Currently live on over 20+ blockchain networks, frxUSD provides continuous market access 24 hours a day, 7 days a week. This always-available infrastructure enables efficient capital deployment and real-time settlement capabilities, meeting demands of modern financial operations. Powered by FraxZero for cross-chain functionality.

Add frxUSD cross-chain transfers into your application in minutes. Follow these quickstarts:

frxUSD's Backing Assets

USTB Details

Superstate Short Duration US Government Securities Fund is a tokenized fund on the Ethereum network that offers Qualified Purchasers access to short-duration U.S. Treasury bills. Learn more (opens in a new tab)

To integrate frxUSD minting and redeeming via USTB in your application, follow this quickstart

BUIDL Details

BlackRock USD Institutional Digital Liquidity (BUIDL) Fund is a tokenized fund on the Ethereum network that is 100% backed by cash, U.S. Treasury bills, and repurchase agreements. Learn more (opens in a new tab)

To integrate frxUSD minting and redeeming via BUIDL in your application, follow this quickstart

WisdomTree Details

The WisdomTree Government Money Market Digital Fund is a tokenized fund on the Ethereum network that invests in high-quality, short-term instruments that may include investments such as Treasury bills, other U.S. government securities, and certificates of deposit. Learn more (opens in a new tab)

To integrate frxUSD minting and redeeming via WTGXX in your application, follow this quickstart

USDB Details

The USDB stablecoin is a GENIUS-compliant stablecoin issued by Bridge.xyz, a Stripe company, on the Ethereum and Solana networks that is backed by short-dated US Treasuries, overnight US Treasury repurchase agreements, money market funds, and cash that is held in a segregated account for the benefit of token holders and custodied by our partners at BlackRock, Fidelity, and Apex. Learn more (opens in a new tab)

To integrate frxUSD minting and redeeming via USDB in your application, follow this quickstart

Transparency

Through partnerships with BlackRock and Superstate, frxUSD maintains full transparency of its U.S. Treasury fund reserves. Each frxUSD is backed by verifiable institutional-grade assets, with regular audits and reporting from industry-leading firms. You can view the reserve balance sheet for frxUSD at Frax's Transparency page (opens in a new tab)

Security

frxUSD has undergone comprehensive security audits by leading blockchain security firm Zellic:

frxUSD Contract Addresses