The cryptocurrency market is witnessing an important development! Frax Finance is stepping into the Cosmos ecosystem thanks to its strategic partnership with asset issuance chain Noble. Thanks to this collaboration, Frax Finance’s stablecoin FRAX and its staked version sFRAX will be integrated into the Cosmos network.

The Cosmos ecosystem is an increasingly popular network of approximately 80 blockchains. This collaboration between Frax Finance and Noble will increase the use of FRAX and sFRAX in various areas such as transactions, savings, payments and collateral. In this way, Cosmos users will gain a decentralized alternative to USDC, another cryptocurrency currently on the market and tied to dollar parity.

Sam Kazemian, founder of Frax Finance, expressed their excitement about this partnership: “Bringing native FRAX issuance to Cosmos has been a long-time goal of ours. We are delighted to announce Noble as our issuance partner. We look forward to FRAX and sFRAX being available and are looking forward to both “We’re excited about the potential innovations being developed on behalf of ourselves and our partners, as well as the broader Cosmos appchain and user community.”

Frax Finance is a comprehensive DeFi ecosystem that offers stablecoins as well as liquidity staking, Layer-2 platform and lending markets on Ethereum. Frax’s other tokens, such as Frax Price Index (FPI) and frxETH, may be integrated into Cosmos in the future.

Noble is an appchain specifically designed for the issuance of native digital assets in the Cosmos ecosystem. The importance of this chain was further emphasized in September 2023 when Circle’s popular stablecoin USDC was also integrated into Cosmos through Noble. As of press time, the total supply of USDC in circulation on Noble was over $195 million, accounting for 0.6% of the USDC supply across all blockchains.

Noble provides seamless integration of assets with leading Cosmos chains such as Osmosis, dYdX, Celestia, Sei and Injective. More than $2.5 billion in crypto assets have been transferred between Cosmos chains in the last four weeks. This shows that the Cosmos ecosystem is increasingly adopted and has become an important factor in the cryptocurrency market.

All in all, this partnership between Frax Finance and Noble looks like it will be beneficial for both parties. Frax Finance will have the opportunity to expand its potential user base by entering the Cosmos ecosystem. Noble, on the other hand, will strengthen its ecosystem by incorporating a well-established DeFi protocol such as Frax. This collaboration is expected to contribute to the growth of Frax Finance and Noble and accelerate the development of the Cosmos ecosystem. Considering that the dynamics in the cryptocurrency market are constantly changing, it will not be a surprise that this partnership will pave the way for innovations in the industry.