Frax Finance Opens USDte Minting With Frax USD for Pre-IPO Loans
Photo: TokenPost
Frax Finance has opened a way to mint USDte using Frax USD (frxUSD), tying the dollar-linked token to loans secured by shares in private companies before they go public. The lending product covers pre-IPO equity in frontier technology sectors, including artificial intelligence and aerospace. Frax USD is used to mint USDte, and each loan settles in USDte. Frax USD has also served as the dollar side of six local-currency stablecoin markets on Base . In those markets, frxUSD is paired with separate local-currency tokens. John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.
Source: TokenPost
