Frax CEO says businesses will drive next wave of stablecoin adoption as firm tests lending product

Frax CEO Sam Kazemian says the company is developing lending products and payment infrastructure as it seeks to expand stablecoin adoption among businesses. Frax is testing a receivables financing product on its FraxNet platform as founder and CEO Sam Kazemian bets that businesses, rather than consumer card users, will drive the next phase of stablecoin adoption. Kazemian told Crypto Briefing that Frax has signed agreements with several large companies, with announcements expected soon. He said the company 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,” Kazemian said, explaining that businesses holding frxUSD can earn up to 5% annually through Frax’s sfrxUSD savings product while retaining the ability…

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