Frax Founder: "US Administration Will Contribute to Becoming the Capital of Digital Assets"

Uk Jin

Summary

Frax Finance founder Sam Kazemian emphasized that the United States could emerge as the capital of digital assets.
He said President Donald Trump recognized Bitcoin as a major asset, and related bills are expected to pass.
Frax announced it will register its stablecoin frxUSD for payments and launch digital cash services.

*Sam Kazemian, Frax Finance founder (left) and Scott Bessent, US Treasury Secretary (right) / Photo=Sam Kazemian X*

Sam Kazemian, founder of the algorithm-based stablecoin project Frax Finance (FRAX), stated on the 18th that "the United States can contribute to becoming the capital of digital assets (cryptocurrency)."

Kazemian shared through his X (formerly Twitter) post that "during the past week in Washington, changes that would take decades in the digital asset industry have emerged."

He continued, "President Donald Trump signed an executive order recognizing Bitcoin as a major asset," adding, "Bills that can make the US a Bitcoin powerhouse are being discussed, along with gold redenomination (downward adjustment of currency units), and the stablecoin bill (GENIUS Act) is expected to pass in August, followed by the Bitcoin bill."

Kazemian particularly emphasized that Frax could play a role in the stablecoin sector. He said, "US Treasury Secretary Scott Bessent, whom I recently met in Washington, understood that dominance in stablecoins is directly connected to dollar hegemony," and added, "Frax plans to register frxUSD as a payment stablecoin and will launch on-chain and off-chain digital cash services in banking and payment sectors."

Previously last month, Frax Finance launched its new flagship stablecoin frxUSD and interest-generating stablecoin sfrxUSD through partnerships with BlackRock and Superstate.