Frax Finance dives into the cosmos: big expansion ahead

Frax Finance is expanding its reach by partnering with Noble to integrate with the Cosmos ecosystem.

This move will make Frax's stablecoin, FRAX, and its decentralized version, sFRAX, accessible in the Cosmos network, which is known for its interoperability between approximately 80 blockchains.

Frax Finance Enters Cosmos Ecosystem

The introduction of FRAX and sFRAX into the Cosmos ecosystem aims to provide users with more options for trading, savings, payments and collateral. So it can boost the decentralized finance (DeFi) sector in the cosmos. This expansion represents a significant step for Frax Finance, extending the stability of the coin beyond its Ethereum roots.

Sam Kazemian, founder of Frex Finance, emphasized the strategic importance of this initiative. He pointed out that this partnership has the potential to foster adoption and add new applications to the growing cosmos community.

“Bringing FRAX to space has been a priority for some time, and we are thrilled to announce Noble as our grant partner. We look forward to FRAX and sFRAX becoming available and excited about the potential new use cases,” Kazemian said.

However, the details of how this merger will affect the broader Cosmos ecosystem and compete with stablecoins like USDT and USDC remain to be seen.

Read more: Guide to the Best Stablecoins in 2024

Frax Finance's offerings include FRAX, sFRAX and other financial instruments and platforms designed to support DeFi activities. The partnership with Noble could pave the way for future integration and expansion. Therefore, it can introduce more Frax properties into the Cosmos ecosystem.