Frax Finance has announced the launch of its stablecoin frxUSD, which will use BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL), tokenized by Securitize. It will serve as the backbone of Stablecoin’s secure and transparent infrastructure.
In partnership with Securitize, a leader in tokenizing real-world assets, Frax has reimagined its flagship FRAX stablecoin. The newly launched frxUSD offers direct fiat redemption and full compliance with U.S. financial regulations.
As the world’s leading asset manager, BlackRock’s involvement with frxUSD signals a transformative moment in finance.
BUIDL, which invests in U.S. Treasury bills, cash, and repurchase agreements, ensures transparency and on-chain audibility, solidifying frxUSD as the first stablecoin to offer seamless fiat on/off-ramping capabilities via Blackrock’s BUIDL infrastructure.
“Tokenized real-world assets provide an excellent bridge between traditional finance and decentralized finance, bringing institutional-grade investments on-chain with unprecedented transparency and efficiency,” said Carlos Domingo, Co-Founder and CEO of Securitize.
“This collaboration exemplifies the next stage in financial evolution, demonstrating how traditional and decentralized systems can work together to redefine asset management strategies. The integration of frxUSD and the BUIDL fund is a clear signal of the transformative potential of tokenization in modern finance,” he added further.
Sam Kazemian, Founder of Frax Finance, “By partnering with Securitize to access and leverage BlackRock’s BUIDL Fund we are setting a new standard for stablecoins. frxUSD combines the transparency and programmability of blockchain technology with the trust and stability of BlackRock’s prime treasury offerings.”
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