01 /
Brief
Frax's dollar stablecoin. Fully backed by BUIDL and tokenized treasury reserves. No cash in a bank. The stablecoin itself is a wrapper around tokenized assets. May 5, 2026: architecture extended to power Somnia's native USDso stablecoin via Frax's off-chain reserve stack.
02 /
Snapshot
Key terms and identifiers.
- Asset classes
- Treasuries
- Token standards
- erc-20
- Jurisdiction
- Global
03 /
Milestones
How this player got here.
- May 2026Architecture extended to Somnia's native USDso
- Jan 2025Launched as BUIDL-backed Frax dollar via Securitize
04 /
Connections
Who they build with, build on, integrate with.
Dependency
Where this player builds on, integrates, or relies on others.
