# FinResPBC

> Financial Reserves and Asset Exploration Inc. (FinResPBC) is a public benefit corporation that supplies financial infrastructure and holds reserves for stableco...

- Canonical URL: https://iq.wiki/wiki/finrespbc
- Categories: Projects & Protocols
- Tags: DeFi
- Created: 2024-07-02T15:25:06.486Z
- Last updated: 2024-07-02T17:41:01.745Z
- Source: IQ.wiki — the world's largest blockchain and crypto encyclopedia (https://iq.wiki)

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**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)  
  
# Overview  
  
Established 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)  
  
FinresPBC’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)  
  
FinresPBC can currently perform the following functions for the [Frax Protocol](https://iq.wiki/wiki/frax-finance): [\[2\]](#cite-id-itxplqdwfrk)  
  
* Hold US Dollar deposits in FDIC-insured IntraFi savings accounts and earn yield.  
* 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.  
* Mint and redeem [Circle](https://iq.wiki/wiki/circle) [USDC](https://iq.wiki/wiki/usdc) [stablecoins](https://iq.wiki/wiki/stablecoin) and earn yield.  
* Hold, purchase, and sell United States Treasury Bills in segregated brokerage accounts to earn yield.  
  
![finrespbc chain.webp](https://ipfs.everipedia.org/ipfs/QmbG9YLBAkkmxNxRxmi4oTg7pmWnYMDzd4nkVXyTFLBtUH)  
  
# Partnerships  
  
## Lead Bank  
  
FinResPBC’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)  
  
## Supported Stablecoins  
  
* [Frax](https://iq.wiki/wiki/frax-stablecoin)  
* [USDCoin](https://iq.wiki/wiki/usdc)  
* [Tether](https://iq.wiki/wiki/tether)  
* [USDP](https://iq.wiki/wiki/pax-dollar-usdp)  
* [DAI](https://iq.wiki/wiki/dai)