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Frax Finance Launches USD Stablecoin with BlackRock BUIDL Backing

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Summary
Nutrition label

76% Informative

Frax Finance introduces frxUSD , backed by BlackRock ’s $ 648 M BUIDL fund.

Stablecoin is pegged to the U.S. dollar on a 1:1 ratio which forms a good condition for price stability for the users.

The Frax community has passed FIP-418, a governance proposal that enables BlackRock 's United States Dollar Institutional Digital Liquidity Fund (BUIDL) to be collateral for the FrxUSD stablecoin.

Frax also unveiled its intention to apply for access to the US Federal Reserve Master Account.

VR Score

64

Informative language

55

Neutral language

75

Article tone

formal

Language

English

Language complexity

64

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

medium-lived

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