Convert USD Coin to Legacy Frax Dollar (USDC → FRAX)

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

Swap USDC to FRAX

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USDC to FRAX rate today

1 USDC ≈ 1.01 FRAX and 1 FRAX ≈ 0.9944 USDC, 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
USD Coin (USDC)$0.9998+0.00%
Legacy Frax Dollar (FRAX)$0.9942+0.17%

How to convert USD Coin to Legacy Frax Dollar

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

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

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

Step 3 — Withdraw FRAX to NEAR
Finally, go to the Withdraw tab. Select Legacy Frax Dollar (FRAX) from your NEAR Intents balance and choose NEAR as the destination. Enter an address from a NEAR wallet such as NEAR Mobile or Meteor 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 USDC → FRAX swap

This is a cross-chain swap: your USDC leaves Ethereum and FRAX arrives on NEAR. 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 FRAX on NEAR, not a wrapped copy you have to bridge again.

USDC and FRAX 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 USD Coin and Legacy Frax Dollar

What is USD Coin (USDC)?

USDC is a US dollar stablecoin issued by Circle, first launched in September 2018 through the Centre consortium that Circle founded with Coinbase. Circle now manages the token directly, and USDC is issued natively on a range of blockchains, with Ethereum among the largest.

Type
Fiat-backed stablecoin
Launched
2018
Consensus
Inherits the consensus of each host blockchain
Max supply
No fixed cap (minted and redeemed on demand)
Swap network
Ethereum
Sector (Messari)
Stablecoins
USD Coin official site ↗Sector classification by Messari ↗

How USD Coin works

Each USDC is meant to be redeemable for one dollar, and Circle mints or burns tokens as institutional customers deposit or withdraw funds. Reserves are held in cash and short-dated US government obligations, largely through a dedicated fund, and Circle publishes regular reports on their composition.

What USDC is used for

USDC is widely used for settlement and payments, both in crypto markets and in business transfers that benefit from moving dollars at any hour. In decentralized finance it serves as a common unit for lending, liquidity pools and trading.

USDC supply

Supply is elastic: USDC is created when dollars are deposited and destroyed when it is redeemed. Circle aims to keep reserves equal to or greater than the amount of USDC in circulation.

Before you swap USDC

The widget defaults to USDC on Ethereum, but the same token also lives on Solana, NEAR, Base and other chains, so select the network your wallet actually uses. Beware of bridged versions with similar names, which are not the same as natively issued USDC.

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.

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

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USDC to FRAX: frequently asked questions

What to know before swapping USD Coin for Legacy Frax Dollar

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