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Las Vegas, NV — October 30, 2025 — Frax announced this week the public launch of FraxNet, an account-based platform that lets anyone—institutions, individuals, businesses, and developers—mint, redeem, and earn on their stablecoin frxUSD across 20+ blockchains. FraxNet is open for sign-ups today, with self-serve onboarding, KYC/KYB for compliance, and direct bank connection for onramping/offramping.
Sign up here.
“Stablecoins built to the GENIUS standard like frxUSD are the future of the digital dollar, but there is no solution for easily accessing their benefits in the market today,” said Sam Kazemian, Founder and CEO of Frax. “FraxNet unlocks these benefits and makes them accessible to everyone—from institutions to individuals—without sacrificing compliance.”
- Access to Stablecoins Built to the GENIUS Standard
FraxNet allows anyone to access frxUSD, Frax’s stablecoin built to the GENIUS standard, backed by tokenized treasuries from leading institutions like BlackRock, Superstate, and WisdomTree.
- Advanced Technology, Simple Interface
Navigating blockchain technology typically requires a learning curve. FraxNet abstracts that away in a simple account-based online system. Login with username and password or Google account, complete KYC, and you’re ready to go. FraxNet also directly connects to your bank account for onramping/offramping.
- End-to-End Compliance
Built-in KYC/KYB gating, so only qualified accounts can mint, redeem, and earn adhering to regulations.
- FraxNet Earn Rewards
GENIUS stablecoins don’t natively distribute yield. However, as a separate financial platform that integrates all major stablecoins such as USDC, USDT, PYUSD, USDB, and others, FraxNet rewards users for registering wallets that convert stablecoins to frxUSD.
- One Account, Multichain Reach
FraxNet goes live on 20+ blockchains, serving as a home base for frxUSD usage on all major chains powered by LayerZero
- A Platform for a Stablecoin Future
FraxNet goes live today with the essentials: mint, redeem, and earn. It is a flexible platform on which Frax will continue to push the boundaries of what is possible with digital dollars. Coming soon are free transfers, real-time rewards, and card integrations.
- Institutions looking to leverage the benefits of productive digital dollars in a compliant way
- Fintechs & Payment Platforms looking to earn rewards for integrating stablecoins
- Asset Managers & Treasuries looking for the safest place to store their onchain cash
- Custodians integrating with frxUSD to enhance their digital asset offering while maintaining AUM
- Developers launching apps that want to implement programmatic reward distribution
- Onchain capital allocators looking for a home base to on/offramp productive stablecoin capital while being able to quickly deploy to any top chain
FraxNet is available for individuals across the U.S. (excluding NY and AK) and businesses in over 40 major countries. Global expansion is coming soon. Check for eligibility. Sign up now at net.frax.com to create your account, mint frxUSD, and start earning rewards.
About Frax
Frax is building the first stablecoin operating system: combining frxUSD (GENIUS-aligned stablecoin), FraxNet (the fintech account layer), and Fraxtal (a high-performance L1)—to bring programmable, compliant digital dollars to the world.
DISCLAIMER: Frax is not a bank. FraxNet accounts are not deposit accounts and are not FDIC/FSCS-insured. Earnings are onchain and not bank interest. Availability may vary by jurisdiction. Certain services may be offered by regulated partners.
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