Skip the weeks of waiting on ASUC. Frax pays you in under 24 hours.
Reimbursements without the wait
ASUC reimbursements can take weeks or months. Frax buys your pending reimbursement and pays you today. When ASUC pays you, you send that payment to Frax.
See how it works
Get paid today
Frax pays you in frxUSD as soon as Blockchain at Berkeley approves your request.
Approved by a club officer
An officer from your club confirms the expense from their phone. If ASUC never pays, the officer covers the rest.
No fees during the pilot
The fee is 0%, and Frax covers network costs, so nothing is taken out of your reimbursement.
Open to lenders
Frax funds the pilot pool with up to $50,000.00. Lenders can see every reimbursement the pool buys and when each one is closed out.
From receipt to paid, in a day
$240.00
Machine Learning at BerkeleyReimbursementYour officer signed off. Blockchain at Berkeley checks the receipts.
How it works
Verify your identity once. After that, each reimbursement takes three steps. frxUSD is a digital dollar issued by Frax, so you don't need any crypto experience.
Frequently asked questions
Common questions from club members.
It's a sale. Frax buys your pending reimbursement and pays you now. When ASUC pays you, you send that payment to Frax.