Frax Finance's frxUSD is now the underlying stablecoin asset for Gearbox Protocol's new RWA market, enabling one-click RWA leverage with institutional-grade liquidity. The first supported asset is Midas RWA's mF-ONE, and coverage from The Rollup framed the launch as a first step toward one-click borrowing against tokenized real-world assets.
frxUSD also becomes a mint asset for mF-ONE — besides USDC, it is the only stablecoin with that status, putting frxUSD into the primary flow for institutional onchain assets. KPK, the DeFi curator and treasury manager with $200M+ AUM, is curating a frxUSD vault for Gearbox's RWA leverage market. Frax called the launch another institutional milestone for frxUSD.
Frax
Frax is the world’s first fractional-algorithmic stablecoin. The Frax Protocol introduced the world to the concept of a cryptocurrency being partially backed by collateral and partially stabilized algorithmically.