Buy FXS at true cost with USD, EUR, GBP, and 20+ fiat currencies
Frax Share (FXS) is listed in the Crypto.com App, and joins the growing list of 100+ supported cryptocurrencies and stablecoins, including Bitcoin (BTC), Ether (ETH), Polkadot (DOT), Chainlink (LINK), VeChain (VET), USD Coin (USDC), and Crypto.org Coin (CRO).
The Frax Protocol is the first in the world to introduce the concept of a cryptocurrency being partially backed by collateral, and partially stabilized algorithmically. The end goal is to provide a highly scalable, decentralized algorithmic money in place of fixed-supply digital assets such as BTC. The protocol is a two token system. It encompasses Frax (FRAX), a stablecoin targeting a tight band around $1/coin, and Frax Share (FXS), the non-stable, ERC-20 governance token which accrues fees, seigniorage revenue, and excess collateral value.
Crypto.com App users can now purchase FXS at true cost with USD, EUR, GBP, and 20+ fiat currencies, and spend it at nearly 70M merchants globally using the Crypto.com Visa Card.