Convert Legacy Frax Dollar to Tether (FRAX → USDT)

Swap FRAX on NEAR to USDT on Ethereum — no bridges, no delays. Powered by NEAR Intents.

Swap FRAX to USDT

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FRAX to USDT rate today

1 FRAX ≈ 0.9945 USDT and 1 USDT ≈ 1.01 FRAX, based on market prices at 2026-09-22 09:42 UTC. The quote in the widget above is what you actually receive, fees included.

TokenPrice24h
Legacy Frax Dollar (FRAX)$0.9942+0.17%
Tether (USDT)$0.9997+0.00%

How to convert Legacy Frax Dollar to Tether

Converting FRAX to USDT on NEAR Mobile Swap is done in three simple steps through the NEAR Intents protocol: Deposit, Swap, and Withdraw.

Step 1 — Deposit FRAX from NEAR
Go to the Deposit tab and select Legacy Frax Dollar (FRAX) on NEAR. The widget will generate a deposit address (or QR code) — send your FRAX there from any wallet. Once the deposit is confirmed on NEAR, your FRAX balance appears inside NEAR Intents.

Step 2 — Swap FRAX to USDT on NEAR Intents
Switch to the Swap tab, pick FRAX as the source and USDT as the target. Enter the amount and confirm — solvers compete to fill your order and the swap settles in seconds.

Step 3 — Withdraw USDT to Ethereum
Finally, go to the Withdraw tab. Select Tether (USDT) from your NEAR Intents balance and choose Ethereum as the destination. Enter an address from any EVM wallet such as MetaMask or Rabby and confirm.

⚠ Important: When entering a withdrawal address, make sure it is a personal wallet you control. Some centralized exchanges do not support receiving funds from smart-contract-based deposits — sending to an exchange address may result in lost funds.

About the FRAX → USDT swap

This is a cross-chain swap: your FRAX leaves NEAR and USDT arrives on Ethereum. Normally that takes a bridge plus a DEX, or a centralized exchange account. With NEAR Intents the deposit, swap and withdrawal happen in one flow, and what lands in your wallet is USDT on Ethereum, not a wrapped copy you have to bridge again.

FRAX and USDT are both dollar-pegged stablecoins, so the rate stays close to 1:1. People swap between them to move to the stablecoin a protocol or exchange accepts, or to change issuer or network without cashing out.

About Legacy Frax Dollar and Tether

What is Legacy Frax Dollar (FRAX)?

FRAX is the first stablecoin issued by Frax Finance, the protocol founded by Sam Kazemian, and it went live on Ethereum in December 2020. After Frax's North Star upgrade in April 2025 the token was relabelled Legacy Frax Dollar, while the newer frxUSD became the protocol's main stablecoin and the FRAX ticker for governance passed to the former FXS token.

Type
USD stablecoin (legacy Frax)
Launched
2020
Consensus
Issued on Ethereum; bridged to NEAR
Max supply
No fixed cap
Swap network
NEAR
Legacy Frax Dollar official site ↗

How Legacy Frax Dollar works

The coin launched with a fractional-algorithmic design, backed partly by collateral and partly by the protocol's own share token, and Frax governance later moved it to full collateralization. The version listed here is the Ethereum ERC-20 locked in NEAR's Rainbow Bridge and minted as a NEP-141 token under factory.bridge.near.

What FRAX is used for

Holders use it as a dollar-denominated unit in DeFi pools and lending markets where FRAX liquidity still exists. On NEAR it mainly serves as a bridged stable asset for moving value to and from Ethereum-based Frax positions.

FRAX supply

There is no fixed cap: FRAX is minted when collateral enters the protocol and burned on redemption, so supply follows demand for the dollar token.

Before you swap FRAX

This is the USD-pegged legacy stablecoin, not the new FRAX governance token (ex-FXS) and not frxUSD, so check what you are receiving. It moves on NEAR here, and a small NEAR balance covers later transactions.

What is Tether (USDT)?

Tether (USDT) is a stablecoin designed to hold a value of one US dollar, issued by the company Tether since 2014. Having started on Bitcoin's Omni Layer, it has since expanded to many blockchains, including Ethereum, TRON, Solana and others.

Type
Fiat-backed stablecoin
Launched
2014
Consensus
Inherits the consensus of each host blockchain
Max supply
No fixed cap (minted and redeemed on demand)
Swap network
Ethereum
Sector (Messari)
Stablecoins
Tether official site ↗Sector classification by Messari ↗

How Tether works

Tether creates new USDT when verified customers deposit dollars and redeems tokens for dollars when they are returned, so the supply follows demand. The company reports holding reserve assets, mainly US Treasury bills and cash equivalents, to back the tokens in circulation and publishes periodic attestations of those reserves.

What USDT is used for

Traders use USDT to park funds between trades and as a quote currency on exchanges around the world. It is also common for cross-border payments and for saving in dollars in places with volatile local currencies.

USDT supply

There is no fixed supply: tokens are minted when dollars come in and burned when they are redeemed. The goal is for each USDT to be backed by reserves worth at least one dollar.

Before you swap USDT

USDT exists on many networks, and the swap widget defaults to the Ethereum version, so confirm the selected network matches the chain of your wallet before sending or receiving. Sending USDT over the wrong network can make funds difficult or impossible to recover.

Looking for the reverse?Convert USDT to FRAX →
More swaps:All FRAX pairs →All USDT pairs →

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FRAX to USDT: frequently asked questions

What to know before swapping Legacy Frax Dollar for Tether

Deposit FRAX from NEAR into NEAR Intents, swap it for USDT, then withdraw USDT to your wallet on Ethereum. The widget on this page walks you through all three steps and shows the exact amount you will receive before you confirm.