ATW Partners Agrees To Invest $50 Million in Frax's frxUSD Stablecoin, Custodied by BitGo

LAS VEGAS, Jan. 14, 2026 /PRNewswire/ -- ATW Partners, Frax, and BitGo Bank & Trust, National Association ("BitGo"), today announced a joint initiative under which ATW Partners, a New York based investment firm, through its affiliates and portfolio companies will deploy up to $50 million into the frxUSD stablecoin. Under the arrangement, BitGo will provide qualified custody of frxUSD for ATW Partners. Frax will maintain the reserves, fully backed by tokenized U.S. Treasury exposure via WisdomTree's WTGXX on the FraxNet platform. This innovative partnership serves as a bridge between TradFi and DeFi and facilitates the usage of dollars for investment on-chain.

"ATW and BitGo are showing how modern financial institutions use stablecoins," said Sam Kazemian, Founder of Frax. "With frxUSD and FraxNet, institutions can mint, redeem, and earn platform rewards for eligible activity, unlocking the superior speed and flexibility of stablecoins over traditional finance."

"BitGo's custody support for frxUSD underscores how qualified custodians can provide the controls institutions need as they adopt tokenized financial assets," said Nathan Stump, Director of FinTech at BitGo. "Through our controlled account framework, ATW can access the operational benefits of onchain workflows while maintaining the transparency and safeguards that institutional investment workflows require."

"This partnership aligns with our strategy of working closely with leading digital asset foundations like Frax to support institutional adoption," said a representative at ATW Partners. "By collaborating with Frax, we aim to help bridge traditional finance with on-chain infrastructure-- bringing institutional participation and new real-world use cases for frxUSD. The stablecoin enables us and our portfolio companies to move dollars at the speed of modern markets while maintaining clear reserve alignment and institutional-grade custody."

ATW Partners and Frax expect to expand the partnership in the coming months to augment institutional investment and B2B use cases for frxUSD while further growing TVL.

About ATW Partners
ATW Partners LLC, founded in 2016, together with its relying advisory affiliate ATW Partners Opportunities Management LLC, is a New York-based multi-strategy investment manager.
Learn more at www.atwpartners.com.

About BitGo
BitGo (BitGo Holdings, Inc. and its subsidiaries) is the digital asset infrastructure company, delivering custody, wallets, staking, trading, and settlement services from regulated cold storage. Since our founding in 2013, BitGo has been focused on accelerating the transition of the financial system to a digital asset economy. With a global presence and multiple regulated entities, BitGo serves thousands of institutions, including many of the industry's top brands, exchanges, and platforms, and over a million investors.

About Frax
Frax is a U.S.-based financial technology company building infrastructure for open, stable, and borderless digital money. The platform is anchored by three pillars: Frax USD (frxUSD), a digital dollar fully-backed by U.S. Treasuries via partners such as BlackRock and Superstate; Fraxtal, a high-performance, Ethereum-compatible blockchain optimized for stablecoin scalability and real-time payments; and FraxNet, a non-custodial fintech platform for institutions and HNWIs to mint, redeem, and earn with frxUSD. Frax serves financial institutions, fintechs, and enterprises seeking secure, compliance-ready access to digital dollars and blockchain infrastructure. Learn more at Frax.com.

Media Contacts
ATW Partners: [email protected]
BitGo: [email protected]
Frax: Gary Bird, FortyThree, Inc., [email protected]

SOURCE Frax