The Frax community has voted to approve the FIP-418 proposal, using BlackRock's BUIDL as the backing collateral for Frax-USD (frxUSD) stablecoin. Frax Finance founder Sam Kazemian stated: 'frxUSD combines the transparency and programmability of blockchain technology with the trust and stability of BlackRock's high-quality government bond products. This collaboration is an important step in connecting traditional finance with decentralized systems.' Previously, Securitize proposed adding BlackRock BUIDL as the supporting asset for the stablecoin Frax USD. (Cointelegraph)