{"id":"finrespbc","version":1,"language":"en","title":"FinResPBC","hidden":false,"content":"**Financial Reserves and Asset Exploration Inc., or FinResPBC**, is a public benefit corporation that supplies financial infrastructure to [stablecoin](https://iq.wiki/wiki/stablecoin) issuers, traditional banks, and [Web3](https://iq.wiki/wiki/web3) banks. It offers swap services and reserve custody strategies for [stablecoin](https://iq.wiki/wiki/stablecoin) issuers while providing software to traditional banks for integrating [stablecoin](https://iq.wiki/wiki/stablecoin) transactions for settlement and custody. [\\[1\\]](#cite-id-99imvsgiqtk)  \n  \n# Overview  \n  \nEstablished in August 2023, FinResPBC is a conduit for the [Frax Protocol](https://iq.wiki/wiki/frax-finance), holding cash deposits and other low-risk cash-equivalent assets, such as reverse repo contracts and treasury bills, crucial for executing the [FRAX v3](https://iq.wiki/wiki/frax-finance) [RWA (Real World Asset)](https://iq.wiki/wiki/real-world-assets-rwas) strategy. Unlike profit-driven entities, FinresPBC's mission is to provide access to safe cash-equivalent assets and yields close to Federal Reserve rates without seeking financial gain. Any yields generated from these assets, after covering operational costs and fees, are returned to the [Frax Protocol](https://iq.wiki/wiki/frax-finance). This approach focuses on supporting the [DeFi](https://iq.wiki/wiki/defi) ecosystem and expanding traditional financial infrastructure, aiming to meet the requirements for a Federal Reserve Master Account (FMA) in the future. [\\[2\\]](#cite-id-itxplqdwfrk)[\\[4\\]](#cite-id-e33hohlqa3f)  \n  \nFinresPBC’s role is strictly limited to holding cash-equivalent reserves and issuing token representations of these reserves. It does not engage in [Frax Protocol](https://iq.wiki/wiki/frax-finance) development or smart contract engineering or participate in [Frax Finance](https://iq.wiki/wiki/frax-finance) operations. The corporation’s mission is to provide on-chain users access to off-chain cash-equivalent RWAs without engaging in additional for-profit activities or hypothecating reserves held for the [Frax Protocol](https://iq.wiki/wiki/frax-finance). FinresPBC emphasizes transparency and accountability by committing to regular asset breakdown reports. These reports will detail all reserves held for the [Frax Protocol](https://iq.wiki/wiki/frax-finance), including yields earned and the costs associated with managing these reserves and transactions. [\\[2\\]](#cite-id-itxplqdwfrk)[\\[5\\]](#cite-id-vhg9pgx345d)  \n  \nFinresPBC can currently perform the following functions for the [Frax Protocol](https://iq.wiki/wiki/frax-finance): [\\[2\\]](#cite-id-itxplqdwfrk)  \n  \n* Hold US Dollar deposits in FDIC-insured IntraFi savings accounts and earn yield.  \n* Mint and redeem [Paxos](https://iq.wiki/wiki/paxos) [USDP](https://iq.wiki/wiki/pax-dollar-usdp) [stablecoins](https://iq.wiki/wiki/stablecoin) and earn yield.  \n* Mint and redeem [Circle](https://iq.wiki/wiki/circle) [USDC](https://iq.wiki/wiki/usdc) [stablecoins](https://iq.wiki/wiki/stablecoin) and earn yield.  \n* Hold, purchase, and sell United States Treasury Bills in segregated brokerage accounts to earn yield.  \n  \n![finrespbc chain.webp](https://ipfs.everipedia.org/ipfs/QmbG9YLBAkkmxNxRxmi4oTg7pmWnYMDzd4nkVXyTFLBtUH)  \n  \n# Partnerships  \n  \n## Lead Bank  \n  \nFinResPBC’s current banking partner is Lead Bank, a regional bank that accommodates [crypto](https://iq.wiki/wiki/cryptocurrency) businesses for safe, compliant traditional financial activities. FinResPBC is expanding its relationships with compliant and [crypto](https://iq.wiki/wiki/cryptocurrency)-friendly financial partners, including full-service banks. [\\[2\\]](#cite-id-itxplqdwfrk)[\\[3\\]](#cite-id-p2yndpezgqc)  \n  \n## Supported Stablecoins  \n  \n* [Frax](https://iq.wiki/wiki/frax-stablecoin)  \n* [USDCoin](https://iq.wiki/wiki/usdc)  \n* [Tether](https://iq.wiki/wiki/tether)  \n* [USDP](https://iq.wiki/wiki/pax-dollar-usdp)  \n* [DAI](https://iq.wiki/wiki/dai)","summary":"Financial Reserves and Asset Exploration Inc. (FinResPBC) is a public benefit corporation that supplies financial infrastructure and holds reserves for stableco...","categories":[{"id":"defi","title":"Decentralized Finance"}],"promoted":0,"tags":[{"id":"Stablecoins"},{"id":"Organizations"}],"metadata":[{"id":"references","value":"[{\"id\":\"99imvsgiqtk\",\"url\":\"https://www.finrespbc.com/\",\"description\":\"FinResPBC Website\",\"timestamp\":1719932075343},{\"id\":\"itxplqdwfrk\",\"url\":\"https://gov.frax.finance/t/fip-277-onboard-finrespbc-as-frax-v3s-offchain-rwa-partner/2492\",\"description\":\"FIP-277 Onboard FinResPBC as FRAX's Offchain RWA Partner\",\"timestamp\":1719932120661},{\"id\":\"p2yndpezgqc\",\"url\":\"https://thedefiant.io/news/defi/frax-founder-proposes-expansion-into-real-world-assets\",\"description\":\"Frax Founder Proposes Expansion Into Real-World Assets\",\"timestamp\":1719941828137},{\"id\":\"e33hohlqa3f\",\"url\":\"https://members.delphidigital.io/feed/frax-v3-moves-towards-rwa\",\"description\":\"FRAX v3 Moves Towards RWA\",\"timestamp\":1719941864713},{\"id\":\"vhg9pgx345d\",\"url\":\"https://flywheeldefi.com/article/what-we-now-know-about-fraxs-rwa-strategy\",\"description\":\"What we now know about Frax's RWA strategy for FXB and sFRAX\",\"timestamp\":1719941886776}]"},{"id":"website","value":"https://www.finrespbc.com/"},{"id":"previous_cid","value":"QmRMLAXhuJTQ394PNaoxbpZGdzmGK9Rbn4fEVtnf3bogfY"}],"user":{"id":"0x6753061a4cffbc0A617e57E956A298D88702a94B"},"author":{"id":"0xacb6c5AD52b8f605299B0d774CE97F26e3DB80c2","profile":{"username":"JSD","avatar":""}},"media":[{"name":"finrespbc chain.webp","id":"QmbG9YLBAkkmxNxRxmi4oTg7pmWnYMDzd4nkVXyTFLBtUH","size":"0.02","type":"GALLERY","source":"IPFS_IMG"}],"views":6,"events":[{"title":"FinResPBC Proposal","description":"FIP-277 Onboard FinResPBC as FRAX's Offchain RWA Partner","type":"CREATED","date":"2023-08","link":"https://gov.frax.finance/t/fip-277-onboard-finrespbc-as-frax-v3s-offchain-rwa-partner/2492","multiDateStart":null,"multiDateEnd":null}],"linkedWikis":{"founders":[],"blockchains":["frax-finance"]},"ipfs":"QmRMLAXhuJTQ394PNaoxbpZGdzmGK9Rbn4fEVtnf3bogfY","transactionHash":"0x904ac2945fd4ee0e7d74dc369fb4b808e2aa6481e8a748d49045de3c10517317","created":"2024-07-02T15:25:06.486Z","updated":"2024-07-02T17:38:42.389Z","images":[{"id":"QmUTQ2ANhv6vdK6uevqzCKKxMN95T5L65yf41CWBCvb2pB","type":"image/jpeg, image/png"}]}