What is Frax USD?

Symbol: FRXUSD · Market cap rank: #264

Short answer

Frax USD (FRXUSD) is a cryptocurrency currently ranked #264 by market capitalisation. It is classified as stablecoin.

Source: isthiscoinascam.com

Overview

Frax USD (frxUSD) is a fiat-redeemable stablecoin issued by the Frax Finance Protocol. It is described as fully-collateralized and backed by cash-equivalent reserves.

The system uses a hybrid model in which governance-approved enshrined custodians mint and redeem frxUSD. It also relies on onchain mechanisms developed by the Frax Finance Protocol to support stability, security, and usage in DeFi and traditional financial systems.

Launched: 2025

Scam-risk analysis

Frax USD has a moderate score — some risk signals were raised but no critical concerns. Is Frax USD a scam?

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