ATW Partners Commits $50M to frxUSD Stablecoin

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Source: CryptoNewsNet Original Title: ATW Partners Commits $50M to frxUSD Original Link: https://cryptonews.net/news/finance/32280869/ ATW Partners has agreed to invest up to $50 million in the frxUSD stablecoin issued by Frax, with custody provided by BitGo. ATW Partners is a New York-based investment firm focused on structured finance. The initiative brings together ATW Partners, Frax, a decentralized stablecoin protocol, and BitGo, a regulated digital asset custodian, to support on-chain dollar deployment for institutional use.

Under the arrangement, ATW Partners, through its affiliates and portfolio companies, will allocate capital into frxUSD. BitGo Bank & Trust will act as a qualified custodian for the stablecoin holdings, providing regulated storage and operational security. Frax will be responsible for managing frxUSD reserves, which are fully backed by tokenized U.S. Treasury exposure.

The reserves are held through WisdomTree’s WTGXX fund on the FraxNet platform. WisdomTree is an asset manager specializing in tokenized financial products. This structure links traditional financial instruments with decentralized infrastructure, allowing dollar-backed assets to be used directly on-chain while maintaining transparent reserve backing.

FRAX21.77%
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liquidation_watchervip
· 8h ago
frx is raising funds again, with $50M coming in... Is BitGo custody reliable this time? I still feel like stablecoins are prone to issues.
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ForkThisDAOvip
· 8h ago
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MetaverseLandladyvip
· 8h ago
frxUSD is raising funds again? A limit of 50M sounds pretty solid, and with BitGo custody, it's quite reliable. But these days, who still believes in stablecoin stories?
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SelfCustodyBrovip
· 8h ago
frx又融钱了,BitGo托管感觉还可以吧,不过稳定币这么多真的能用完么
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Rekt_Recoveryvip
· 8h ago
fifty mill on a stablecoin... that's the move when you're trying to recover from liquidation ptsd, ngl. bitgo custody though, at least someone learned the hard way about self-custody disasters 💀
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