Frax Opens Six Local-Currency Stablecoin Pairs With frxUSD on Base

Frax Finance has opened six foreign-currency stablecoin markets on Base, pairing each token with its dollar-linked Frax USD (frxUSD) to create new onchain trading routes.

The Onchain FX markets are available through AeroXYZ. Every pair uses frxUSD as its dollar side, connecting six local-currency tokens to the same reference asset.

The six tokens are AUDF, BRZ, CADD, IDRX, tGBP and ZARP. Each token has a separate trading pair with frxUSD.

The markets exchange digital tokens rather than bank balances. Base processes transactions for applications built on Ethereum, while frxUSD is designed to maintain its value against the U.S. dollar.