Frax just put six national currencies onchain. The rand and the Aussie dollar are each doing about $220 a day.
Monday, Frax opened FX on Base: Brazilian real, Canadian dollar, pound, rupiah, rand and Aussie dollar stablecoins, each paired against frxUSD on Aerodrome, with DFB running the FX plumbing. The pitch: "FX trades trillions a day, almost none onchain."
Day two, per GeckoTerminal Tuesday evening: about $243K in the six pools and roughly $16K in 24h volume. The rupiah leads at $7.1K. AUDF did $219 against $46.7K of liquidity sitting in its pool.
Meanwhile a frxUSD pool for tokenized Nvidia, holding $463, traded $8.2K.
Onchain FX is open for business. The customers are at the stock kiosk.
Source: https://thedefiant.io/news/defi/frax-announces-six-currency-fx-lineup-on-aerodrome