Seamless Fiat On/Off Ramp Built on Ethereum Network Adds Unprecedented Transparency and CustodyLAS VEGAS, Jan. 2, 2025 /PRNewswire/ -- Frax Finance , a decentralized stablecoin cryptocurrency protocol, today announced the launch of a new stablecoin, frxUSD, that will leverage BlackRock's USD Institutional Digital Liquidity Fund (BUIDL), tokenized by Securitize, to deliver a secure, transparent, and fully auditable backing mechanism.This partnership marks a milestone in the integration of traditional finance and blockchain technology. The frxUSD stablecoin, a rebranded evolution of Frax's flagship FRAX stablecoin, offers direct fiat redemption capabilities and enhanced compliance with U.S. financial systems.As part of the collaboration, BUIDL will become an enshrined custodian asset for minting and redeeming frxUSD. The stablecoin will be uniquely backed by assets held in BlackRock's BUIDL, which invests in cash, U.S. Treasury bills, and repurchase agreements

Frax partners with Securitize on new stablecoin.

Securitize announced today it has obtained approval by the Spanish National Securities Market Commission (CNMV) as an Investment Firm, registering Securitize Europe Brokerage and Markets, S.A. to operate as a Sociedad de Valores (broker dealer), providing services for blockchain-based financial assets, including acting as an Entidad Responsable de Inscripción y Registro (ERIR).“Our approval as an Investment Firm and namely the ability to act as an ERIR in Spain is an important milestone for Securitize,” said Carlos Domingo, Co-founder and CEO of Securitize. “With this approval, Securitize can now tokenize, manage, and facilitate the lifecycle of digital securities in Europe, creating new opportunities for issuers to raise capital and for investors to access innovative, blockchain-powered investment opportunities under one unified, regulatory-compliant platform.The CNMV’s approval highlights the integration of blockchain technology into traditional financial systems under Spain’s progressive legal structure. This includes compliance with Spain’s Securities Market Law (Ley del Mercado de Valores) and alignment with European Union regulations such as MiFID II.As an Investment Firm, in addition to acting as an ERIR, Securitize may provide investment services such as tokenization of financial instruments and, pending approval under the Pilot Regulation, operation of a DLT trading and settlement system, all within a regulated environment that ensures robust investor protection and operational transparency​