# Frax USD (frxUSD): Live Peg, Issuer & Backing

> Frax USD (frxUSD) stablecoin: live USD peg deviation in bps, depeg history, issuer Frax, backing and FAQ. No licences on record.

Canonical: https://stableradar.com/coin/frxusd
Generated: 2026-11-13T12:44:07.075Z (live figures are a snapshot at build time; see the canonical page for current values)

Stablecoin profile LIVE

# Frax USD (frxUSD) stablecoin
**In short:** frxUSD is a USD-pegged stablecoin issued by the decentralised Frax protocol. No token-level authorisation identified in the official registers checked. Below: live peg deviation, peg history, issuer, backing and FAQ.

[Issuer profile → Frax](https://stableradar.com/issuer/frax)

$0.9997

Peg target: $1.0000 (USD)

On peg

Deviation: **-2.5 bps** (-0.03%) · Market cap: $93.7M

Sources: CoinGecko, DefiLlama · [CoinGecko ↗](https://www.coingecko.com/en/coins/frax-usd) · Median of the available sources, refreshed in your browser. A deviation here is not a confirmed depeg.

### Token legal status
frxUSD

Other stablecoins

(1) Entity licence / registration

No entity licence record captured by StableRadar.

(2) Authorisation to issue this token

No authorisation to issue this stablecoin identified in official registers as of 27 Oct 2026. Registers checked: NYDFS Greenlist, ESMA EMT register, JFSA, HKMA, CNAD, OCC

(3) Applicable law

Token legal status last checked: 27 Oct 2026

### Issuer & legal entity
- Issuer **Frax**

- Legal entity None identified (decentralised protocol)

- Backing mechanism Protocol-issued

- Directory note Frax protocol stablecoin. No licence found in official registers. [frax.com ↗](https://frax.com/)

No licences or registrations are on record for Frax in StableRadar’s data.

The Frax profile describes the company and its other tokens; its reserve and model fields are not repeated here for frxUSD.

Transparency Score (issuer)

Transparency Score

Weighted from public, sourced inputs · 88% of inputs available

Not legal advice; algorithmic assessment from public sources.

Our opinion based on public data as of 12 Nov 2026. Not a regulatory decision or a credit rating.

[Issuer profile → Frax](https://stableradar.com/issuer/frax)

### frxUSD peg history
Max deviation from the peg, time spent outside ±50 / ±100 bps and derived events per window. 24h: CoinGecko 5-minute prices; 7d, 30d, 90d: hourly; 1y: daily. Cached at build time.

| Favourites | Coin | Peg | Trend | Max |dev| | Low | >±50 bps | >±100 bps | Events | Details |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  | **FRXUSD** | USD |  | +135.9 bps | 0.9992 | 1 h | 1 h | 1 |  |

Source: [CoinGecko ↗](https://www.coingecko.com/), [DefiLlama ↗](https://defillama.com/stablecoins) · market data cached 13 Nov 2026, 11:28 UTC. Aggregated prices can move on thin markets; a deviation here is not a confirmed depeg.

### FAQ about frxUSD
#### What is Frax USD (frxUSD)?
frxUSD is a stablecoin pegged to the US dollar. Issuer: Frax. Backing (as described in our data): Protocol-issued.

#### Who issues frxUSD?
frxUSD is issued by the Frax protocol, a decentralised protocol; StableRadar’s data identify no legal issuing company. No licences or registrations are on record for Frax in StableRadar’s data.

#### Is frxUSD authorised under MiCA or another stablecoin regime?
No authorisation to issue frxUSD was identified in the official registers StableRadar checked (NYDFS Greenlist, ESMA EMT register, JFSA, HKMA, CNAD, OCC; last checked 27 Oct 2026). This does not mean the coin or issuer is unlawful, unlicensed or unsafe.

#### Is frxUSD safe?
StableRadar does not say whether a coin is safe and does not give investment advice. In our opinion, based on public data as of 12 Nov 2026, the issuer Frax has a Transparency Score of 36/100. This is not a regulatory decision or a credit rating. The live peg deviation and the official register links are on this page.

#### How is frxUSD backed?
Model: Protocol-issued.

### Related pages
Issuer profile → Frax

Stablecoin laws by country

News & depeg incidents

Live peg monitor

All stablecoins

Issuer ranking

Informational only: not legal, investment or compliance advice. Company statements are marked “per company”.

Live prices: 13 Nov 2026, 12:43 UTC · Issuer reference data reviewed: 26 Oct 2026 (later changes are dated on each row) · Sources: [Issuer / token page (Frax)](https://frax.com/), [DefiLlama · frxUSD](https://defillama.com/stablecoin/frax-usd), [CoinGecko · frxUSD](https://www.coingecko.com/en/coins/frax-usd), [DefiLlama · Ethereum stablecoins](https://defillama.com/stablecoins/Ethereum)

Data: [DefiLlama](https://defillama.com/) · Powered by [CoinGecko](https://www.coingecko.com/)