What is Frax USD (FRXUSD)?
Frax USD (frxUSD) is a fiat-redeemable, fully-collateralized stablecoin issued by the Frax Finance Protocol. It operates using a hybrid model where governance-approved enshrined custodians mint and redeem frxUSD backed by cash-equivalent reserves, while advanced onchain mechanisms developed by the Frax Finance Protocol ensure stability, security, and seamless usability across DeFi and traditional financial systems.
Where can you buy Frax USD?
Frax USD (FRXUSD) is traded on a wide range of centralized and decentralized exchanges. The most liquid markets for FRXUSD sit on tier-1 venues - the sort of exchanges where institutional desks and professional market makers rebalance continuously - which is what keeps the spread tight and the last price tied closely to fair value.
The price and 24-hour volume on this page combine the exchanges ReadPrices tracks for FRXUSD. Before you trade, compare the fee schedule and the order-book depth on the venue you plan to use: the same coin can cost noticeably more to buy on a thin market.