FinresPBC

What FinresPBC does

Frax Finance operates a decentralized finance (DeFi) stablecoin infrastructure platform built on three core pillars. The first is frxUSD, a digital-dollar stablecoin fully backed by institutional-grade tokenized U.S. Treasury funds, primarily BlackRock's BUIDL fund alongside Superstate's USTB and USCC products. The second is Fraxtal, a high-performance EVM Layer 1 blockchain designed for scalability with a stated target of 100,000+ transactions per second and real-time block production. The third is FraxNet, a non-custodial platform enabling users to mint, redeem, and earn passive yield on frxUSD directly from their crypto wallets, with multi-asset support for USDC, USDT, PYUSD, bank wires, and tokenized treasuries.

The business model is transaction-fee-based, generating revenue from minting, redemption, and transfer operations on the frxUSD stablecoin. Distribution is primarily product-led and self-serve through the FraxNet platform, with no public pricing tiers or fee schedule disclosed. The customer base is horizontally segmented into crypto-native users and DeFi participants (primary), plus institutional crypto users (secondary), all served through wallet-based interfaces rather than enterprise sales. Strategic partnerships with BlackRock, Superstate, Securitize, Bridge.xyz, and Wisdom Tree provide institutional-grade asset backing, tokenization infrastructure, and cross-chain bridging. The company has also onboarded a suite of Frax-native DeFi protocols — Curve, Convex, Velodrome, Morpho, IQ AI, and Trinity — onto the Fraxtal blockchain to seed ecosystem liquidity and utility. No revenue, funding, headcount beyond the 1-10 range, or financial performance data is disclosed in the available source material.

Name

FinresPBC

Legal name

Frax Finance

Website

https://finrespbc.com

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

1–10 employees

Short description

Frax Finance builds stablecoin infrastructure centered on frxUSD, a digital dollar backed by tokenized U.S. Treasuries (BlackRock BUIDL, Superstate), supported by the Fraxtal EVM Layer 1 blockchain and the FraxNet non-custodial platform serving crypto-native and institutional DeFi users globally.

Ownership category

akta.pro rank

Product category

Stablecoin Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199)

akta.pro primary industry

Stablecoin Issuers (Fiat-Backed) (FSADADAA)

akta.pro secondary industries

On-Chain Payments & Stablecoin Infrastructure (Issuance, Rails, Treasury) (FSAGAMAD), Stablecoin Payment Rails & Settlement Networks (Issuer-Led) (FSADADAF), Mint/Redeem, Issuance APIs & Treasury Operations Platforms (FSADADAE), Stablecoins & On-Chain Money (fiat-backed, crypto-backed, algorithmic; issuance/redemption) (FSAPAEAB), Crypto Payments & Stablecoin Settlement Platforms (BPAMAFAL)

Keywords

• Stablecoin infrastructure
• Tokenized treasury assets
• Decentralized finance protocols
• EVM layer one blockchain
• Digital dollar payments

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Infrastructure, Personnel, Operations, Marketing or Sales

Revenue model

1. Stablecoin Transaction Fees: Revenue generated from transaction fees on the frxUSD stablecoin minting, redeeming, and transfer operations within the Frax ecosystem.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

FinresPBC builds stablecoin infrastructure anchored by frxUSD, a digital dollar fully backed by institutional-grade tokenized U.S. Treasury funds (BlackRock's BUIDL and Superstate's USTB/USCC). The company operates the Fraxtal EVM Layer 1 blockchain designed for high scalability and low fees, and provides FraxNet, a non-custodial platform enabling users to mint, redeem, and earn APY on frxUSD using USDC, USDT, PYUSD, bank wires, or tokenized treasuries.

Product overview

Frax Finance is building an open financial system based on three core pillars: the frxUSD stablecoin (a digital dollar backed by tokenized U.S. Treasuries via BlackRock and Superstate), the Fraxtal Layer 1 blockchain (EVM-compatible with high scalability), and FraxNet (a non-custodial platform for minting, redeeming, and earning on frxUSD). These products work together to create an accessible, borderless financial system where stablecoin infrastructure integrates with DeFi protocols on the Fraxtal blockchain.

Differentiator

Problem solved

Functional benefit

Brands

• frxUSD: A secure, stable, and scalable digital dollar fully backed by institutional-grade tokenized U.S. Treasury funds and powered by industry leaders like BlackRock and Superstate
• Fraxtal
• FraxNet

Products and services

• frxUSD Stablecoin A secure, stable, and scalable digital dollar stablecoin fully backed by institutional-grade tokenized U.S. Treasury funds, powered by BlackRock and Superstate. Users can mint, redeem, and earn APY on frxUSD through FraxNet, with 1:1 minting support for USDC, USDT, PYUSD, bank wires, and tokenized treasuries.
• Fraxtal Blockchain A high-performance EVM Layer 1 blockchain designed for extreme scalability with minimal fees and Ethereum-level security, with plans for real-time blocks and 100k+ TPS throughput. Supports Frax-native DeFi applications including Curve, Convex, Velodrome, Morpho, IQ AI, Trinity, FraxLend, and FraxNet.
• FraxNet A non-custodial platform for minting, redeeming, and earning APY on frxUSD with direct wallet integration and multi-asset support. Enables conversion from USDC, USDT, PYUSD, bank wires, or tokenized treasuries into frxUSD, with passive Treasury yield earned automatically by holding in a non-custodial wallet.

Quantifiable outcome

• Fully backed by U.S. Treasury assets with institutional-grade custody

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature5 records

Partnerships

Two partnerships are on record, tiered core.

• SuperstatecoreTechnology or Integration · 1 January 2025Superstate's USTB and USCC tokenized treasury funds approved to support frxUSD, providing additional institutional-grade asset backing alongside BlackRock's BUIDL.
• SecuritizecoreTechnology or IntegrationSecuritize powers frxUSD stablecoin alongside BlackRock's BUIDL fund, enabling institutional-grade tokenization and compliance for the stablecoin infrastructure.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Coinbase: Co-issuer of USDC with Circle and operator of Base L2. Overlaps with Frax through USDC distribution and a competing L2 settlement environment for stablecoin liquidity.
• PayPal: Issuer of PYUSD via Paxos. Competes with frxUSD in the consumer- and merchant-facing digital-dollar space, but with a far larger user base and brand.

Direct peers

• Circle: Issuer of USDC, the leading regulated U.S.-dollar stablecoin. Direct competitor to frxUSD with overlapping fiat-backed reserve model, multi-chain distribution and institutional positioning.
• Ripple: Issuer of RLUSD, a U.S.-dollar stablecoin aimed at cross-border payments and institutional settlement. Comparable positioning at the intersection of TradFi and crypto payments.
• Ondo Finance: Issuer of tokenized U.S. Treasury products (OUSG, USDY) and the Ondo Chain. Directly comparable in combining tokenized Treasuries with on-chain dollar instruments.
• Paxos: Regulated issuer of USDP and infrastructure provider for PayPal's PYUSD. Comparable as a compliance-first stablecoin issuer targeting enterprise and fintech distribution.
• Sky (formerly MakerDAO): Issuer of DAI/USDS, a decentralized dollar stablecoin with crypto- and real-world-asset collateral. Direct competitor in the DeFi-native, yield-bearing stablecoin category.
• Tether: Issuer of USDT, the largest stablecoin by circulating supply. Competes head-to-head with frxUSD for on-chain dollar liquidity, exchange listings and OTC settlement.
• Ethena Labs: Issuer of USDe, a synthetic-dollar stablecoin that distributes derivative-funded yield. Closely comparable value proposition to frxUSD's yield-bearing stablecoin model.

Others

• Securitize: Tokenization platform powering BlackRock BUIDL and integrated into frxUSD's issuance stack. Adjacent infrastructure partner rather than a competitor, but central to Frax's reserve architecture.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about FinresPBC