Frax Finance Introduces frxUSD with BlackRock BUIDL Backing
- BlackRock’s BUIDL fund has over $648 million in assets under management (AUM)
- FIP-418 proposal received full support from Frax’s Decentralized Autonomous Organization (DAO)
- frxUSD stablecoin aims for a 1:1 peg to the U.S. dollar
This collaboration between Frax Finance and BlackRock establishes a new precedent in stablecoin collateralization, leveraging BlackRock’s significant AUM to ensure stability and credibility.
