FRAX, the world’s first fractional algorithmic stablecoin, announced a new strategic investor in its current financing round, Crypto.com Capital.
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The venture arm of Crypto.com, Crypto.com Capital will be an incredibly important partner to FRAX moving forward as the world’s number one fiat gateway with over 10 million users and 20 supported fiat currencies in over 90 supported countries. In addition to funding from Crypto.com Capital, the Crypto.com team will work closely with FRAX to increase adoption and integrate support globally.
“Crypto.com Capital is proud to support FRAX Finance, one of the leading Stablecoin experiments in DeFi that has the potential to reduce volatility and promote greater decentralization,” said Bobby Bao, Co-Founder of Crypto.com and MD of Crypto.com Capital.
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“Crypto.com Capital is one of the most used and trusted names in crypto trading. We have some very exciting integrations to bring FRAX & FXS to a wider global audience,” added Sam Kazemian, Founder of FRAX Finance.
“We’re excited to get strategic backing from one of the best cryptocurrency onramps in the world,” said Travis Moore, CTO of FRAX.
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