FRAX Cryptocurrency
Latest round
- Seed
Last raised
- Jul 2020
Total raised
- Undisclosed
Investors
- 1
About FRAX Cryptocurrency
Founded in 2019 in Grand Cayman, US, Frax Cryptocurrency specializes in stablecoin solutions, particularly its frxUSD product. The company was established by Jason Huan and Travis Moore, who have a background in financial technology.S. Treasury assets.1% through a non-custodial platform known as FraxNet. The platform supports direct wallet integration, enabling seamless transactions with various dollar types and stablecoins. Retail and institutional clients seeking a stable digital asset for transactions, savings, or investments are the primary end users, with the product actively marketed across North America, Europe, and Asia.Frax's revenue model is centered around transaction fees and the interest earned through the minting and holding of frxUSD. Users can mint frxUSD on a 1:1 basis using USDC, bank wires, or tokenized treasuries, facilitating a straightforward transaction structure.S. Treasury yields.com Capital, which will be used to accelerate the company's global expansion. As part of their growth strategy, the company is likely to introduce new products aimed at enhancing their stablecoin offerings and expand into new markets, particularly targeting regions in Asia and Europe by the end of 2023.
Who invested in FRAX Cryptocurrency
1 investor across 1 round
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Funding rounds
Seed
Jul 8, 2020
Amount
Undisclosed
Investors
Questions about FRAX Cryptocurrency
Who invested in FRAX Cryptocurrency?
FRAX Cryptocurrency has 1 investor on record across 1 venture round. Sign up free to see every VC on the cap table and the rounds they joined.
How much funding has FRAX Cryptocurrency raised?
FRAX Cryptocurrency has raised 1 venture round. Sign up free to see how much each round raised and the total.
When did FRAX Cryptocurrency last raise money?
FRAX Cryptocurrency's most recent round on record is a Seed, in Jul 2020.
What does FRAX Cryptocurrency do?
Founded in 2019 in Grand Cayman, US, Frax Cryptocurrency specializes in stablecoin solutions, particularly its frxUSD product.
Where is FRAX Cryptocurrency headquartered?
FRAX Cryptocurrency is headquartered in Grand Cayman, US.
Which VCs invest in companies like FRAX Cryptocurrency?
Among active investors with capital left to deploy, Andreessen Horowitz, Founders Fund, Accel and Thrive Capital back internet companies at FRAX Cryptocurrency's stage. Their profiles are linked below.
VCs backing internet startups at Seed
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