Frax Tests Receivables Financing on FraxNet as CEO Sam Kazemian Targets Business Stablecoin Adoption

Frax Group Inc. is testing receivables financing on its FraxNet platform, letting businesses borrow against outstanding invoices through individual lending vaults, founder and CEO Sam Kazemian said. Crypto Briefing reported the company has signed agreements with several large companies and expects announcements soon.

How FraxNet Receivables Vaults Work

Under the model, lenders provide capital to a vault, which businesses can access using receivables as collateral. Once customers settle their invoices, funds return to the vault and are distributed to lenders with their returns. Frax plans to introduce generalized vaults that finance multiple receivables and allow outside liquidity providers to participate.

Kazemian said Frax is targeting businesses that serve international clients, move large sums and require customized compliance, stablecoin conversion and payment infrastructure. "They want their money to keep working as soon as payment lands," he said, explaining that businesses holding frxUSD can earn up to 5% annually through Frax's sfrxUSD savings product while retaining the ability to make payments or use their balances as collateral.

FraxNet accounts allow businesses to mint and redeem frxUSD through banking infrastructure and maintain stablecoin treasury balances. FraxNet opened to the public in October 2025, while receivables financing and payment applications, including integrations with FraxPay, remain in development.

Kazemian questioned the fees charged by traditional payment networks, while acknowledging the role companies such as Visa have played in establishing trust and fraud protections. "Merchants still pay 2% to 3% per transaction, a rate set when moving money required a card network in the middle," he said. Inquirer reported on October 23, 2026 that Visa is exploring stablecoin use cases with Philippine banks and fintechs to reduce cross-border payment costs and friction.

Frax's frxUSD Backing and Scale

According to akta.pro company records, Frax launched frxUSD in January 2025 as a U.S. dollar stablecoin fully backed by BlackRock's BUIDL tokenized Treasury fund and Securitize, following approval via a Frax community vote. The same records show BlackRock provides its BUIDL fund as the institutional-grade tokenized U.S. Treasury asset backing frxUSD, while Superstate provides USTB and USCC tokenized Treasury products approved to support the stablecoin.

Kazemian described frxUSD as a stablecoin with approximately $100 million in circulation, processing more than $10 million in daily minting, redemptions and transfers, primarily through decentralized finance. Crypto Briefing has not independently verified the transaction volume. Data from DefiLlama shows frxUSD with slightly less than $100 million in circulation.

Stablecoin Payment Pilots Across the Sector

Hyundai Card used Axiym's infrastructure on Avalanche to settle a $20,000 USDT intercompany transfer from its US to Mexican subsidiary in about seven minutes, cutting time by over 96%, Crypto Briefing reported on October 16, 2026. Mastercard and BVNK launched the Mastercard Global Money Platform, integrating Mastercard's payments with BVNK's stablecoin infrastructure via a single API, TradingView reported on October 15, 2026. Money20/20 USA's Jessica Blue said convergence of stablecoins, AI and real-time payments is the 2026 theme, with 11,000 attendees from 90 countries, of FinTech & Banking News reported on October 18, 2026.

Kazemian's 2027 Adoption Markers

Looking ahead to 2027, Kazemian said meaningful adoption would involve large companies settling payments through FraxPay, maintaining operating balances in frxUSD and sfrxUSD, and suppliers retaining stablecoins rather than immediately converting them into traditional currencies. He also pointed to the development of generalized receivables vaults funded by outside lenders as another indicator of growing business demand.