Frax Finance integrates the cross-chain infrastructure protocol Axelar Network (AXL) and issues assets such as FRAX and frxETH on multiple chains

The stablecoin protocol with a hybrid algorithm, Frax Finance, announced that it has integrated with the cross-chain infrastructure protocol Axelar Network (AXL), enabling the issuance of assets such as FRAX and frxETH on multiple blockchain platforms including Osmosis, Mantle, Linea, Kujira, Manta Network, and Scroll. This is aimed at expanding the coverage and interoperability of its assets, further expanding the Frax Finance ecosystem.

Frax Finance recently launched an extensive real-world asset (RWA) strategy, with cross-chain expansion being a core part of it. Blockchain interoperability is seen as a key factor in the practicality of stablecoins and real-world asset (RWA) applications. Frax chose Axelar Network as a partner based on its scalability, programmability, and security. Through this partnership, Frax aims to promote the generation, trading, and circulation of digital assets in multiple use cases, contributing to the development of a more interconnected decentralized financial (DeFi) ecosystem.