# RWAs FRAX V3 utilizes a real-world asset (RWA) strategy when the IORB oracle reports high rates. FRAX V3 only utilizes RWAs that yield very close to the IORB rate with as little duration risk as possible. Thus, only the following assets are considered at this time unless changed by the [frxGov](https://docs.frax.finance/frax-governance/frax-governance-overview) process:\ \ 1.) Short-dated United States treasury bills \ 2.) [Federal Reserve Overnight Repurchase Agreements](https://www.federalreserve.gov/monetarypolicy/standing-overnight-repurchase-agreement-facility.htm)\ 3.) USD deposited at Federal Reserve Bank master accounts\ 4.) Select shares of money market mutual funds\ \ FRAX V3 partner custodians primarily concentrate on only the above assets. RWA partners must report the custody, broker, banking, and trust arrangements employed in the course of holding the assets for FRAX V3 no later than monthly. [FIP-277](https://gov.frax.finance/t/fip-277-onboard-finrespbc-as-frax-v3s-offchain-rwa-partner/2492) enshrined FinresPBC as the first RWA partner for FRAX V3. FinresPBC will concentrate on securing “cash equivalent” low risk RWAs and optimize for yielding close to the IORB rate for the sFRAX staking vault. Additional RWA partners can be onboarded per governance voting through [frxGov](https://docs.frax.finance/frax-governance/frax-governance-overview). --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.frax.finance/frax-v3-100-cr-and-more/rwas.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.