Frax Finance
Founded Year
2019Stage
Seed VC - II | AliveRevenue
$0000Mosaic Score The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.
-18 points in the past 30 days
About Frax Finance
Frax Finance operates in the cryptocurrency and DeFi (Decentralized Finance) protocols. It involves offering a unique type of cryptocurrency that is partially backed by collateral and partially stabilized algorithmically. The company primarily caters to the financial technology industry. The company was founded in 2019 and is based in Grand Cayman, Cayman Islands.
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ESPs containing Frax Finance
The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.
The yield-bearing stablecoin issuers market includes companies that create and issue stablecoins with built-in yield mechanisms that automatically generate returns for holders without requiring external staking or farming. These issuers embed yield-generation directly into their stablecoin architecture through treasury-backed yields, algorithmic distribution systems, automated DeFi strategy deploy…
Frax Finance named as Challenger among 15 other companies, including Paxos, Bridge, and Ethena.
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Research containing Frax Finance
Get data-driven expert analysis from the CB Insights Intelligence Unit.
CB Insights Intelligence Analysts have mentioned Frax Finance in 1 CB Insights research brief, most recently on May 29, 2025.
May 29, 2025
The stablecoin market mapExpert Collections containing Frax Finance
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Frax Finance is included in 3 Expert Collections, including Blockchain.
Blockchain
14,837 items
Companies in this collection build, apply, and analyze blockchain and cryptocurrency technologies for business or consumer use cases. Categories include blockchain infrastructure and development, crypto & DeFi, Web3, NFTs, gaming, supply chain, enterprise blockchain, and more.
Fintech
14,203 items
Excludes US-based companies
Stablecoin
471 items
Latest Frax Finance News
Oct 30, 2025
Crypto protocol Frax and AI agent platform IQ have partnered to launch a Korean won stablecoin on the Coinbase-linked Base blockchain. In a statement viewed by Cointelegraph on Thursday, the two companies launched KRWQ, the first fully-backed won stablecoin on Base, alongside a trading pair with the US dollar stablecoin USDC on the Aerodrome exchange. The pair also claims KRWQ is the first multichain won-denominated stablecoin, as the token can be transferred across multiple networks using services from crosschain protocols LayerZero and Stargate Finance. South Korea has been ramping up its ambitions for local currency stablecoins, with plans for a regulatory framework for the tokens and the central bank pushing for the banking sector to lead their rollout. The Bank of Korea's push for banks to lead a stablecoin rollout has seen pushback from the crypto sector, with Kaia DLT Foundation chair Dr. Sangmin Seo recently telling Cointelegraph that the central bank should establish clear rules for stablecoin issuers that can “minimize monetary risks and foster innovation.” “KRWQ fills a critical gap in the market. While USD-backed stablecoins dominate today, no credible won-denominated stablecoin has ever launched at scale,” said IQ co-founder Navin Vethanayagam. New incentive layer boosts miner economics after Bitcoin halving Post-Bitcoin halving, a secondary incentive and Bitcoin L1 programmability align miners, builders and apps, charting a path to self-sovereign ‘App3.' Frax and IQ said that KRWQ was designed to be fully regulatory-compliant in South Korea, and was “developed in anticipation of the forthcoming stablecoin legislation” to be reviewed in the country's national legislature. However, the duo said that the stablecoin is not being marketed or offered to South Korean residents and is “intended for use in global DeFi markets,” as lawmakers are still discussing rules around the tokens. Minting and redemption of the token is also limited to “eligible KYC'd counterparties,” including exchanges, market makers, and integrated institutional partners.” KRWQ's launch comes a day after South Korean crypto custodian BDACS said it plans to issue its own won-backed stablecoin called KRW1 on Circle internet Group's new blockchain, Arc. BDACS' stablecoin first went live on the Avalanche blockchain last month following a proof-of-concept with Woori Bank.
Frax Finance Frequently Asked Questions (FAQ)
When was Frax Finance founded?
Frax Finance was founded in 2019.
Where is Frax Finance's headquarters?
Frax Finance's headquarters is located at Willow House Cricket Square Post Office Box 709, Grand Cayman.
What is Frax Finance's latest funding round?
Frax Finance's latest funding round is Seed VC - II.
Who are the investors of Frax Finance?
Investors of Frax Finance include Crypto.com Capital, Electric Capital, Dragonfly, Robot Ventures, Stani Kulechov and 4 more.
Who are Frax Finance's competitors?
Competitors of Frax Finance include Bitwise Asset Management and 6 more.
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