Anchorage Digital Enables Institutional Access to Frgmnt’s fUSD Stablecoin via Custody Platform
Anchorage Digital has partnered with the stablecoin protocol Frgmnt to offer institutional clients seamless access to its fUSD and sfUSD tokens via Anchorage’s custody platform. This integration allows institutions to hold, mint, redeem, stake, and unstake fUSD without the need for separate custody arrangements. The partnership underscores Anchorage’s expanding role as a regulated gateway for institutions seeking access to stablecoins and onchain financial services.
Anchorage Digital Partners with Frgmnt to Enhance Institutional Access to fUSD
Anchorage Digital, a US federally chartered crypto bank, announced a partnership with the stablecoin protocol Frgmnt built on the Base blockchain. This collaboration enables institutional clients to seamlessly hold, mint, redeem, stake, and unstake Frgmnt’s fUSD and sfUSD tokens using Anchorage’s custody platform, eliminating the need for separate custody setups.
Frgmnt issues the fUSD stablecoin backed by USDC, deploying collateral into onchain lending markets. Users can stake fUSD to receive sfUSD, which accrues rewards based on the protocol’s underlying lending strategies. Currently operating under an invite-only, capped beta, Frgmnt holds approximately $100,000 in total value locked according to DeFiLlama data.
Yield Generation and Future Plans for Frgmnt
As of September 4th, the sfUSD token offered an annual percentage rate (APR) of roughly 13.32%, though this yield fluctuates depending on the conditions of the underlying lending markets.
Frgmnt plans to open public access and raise the deposit cap on September 15, expanding the opportunity for wider participation beyond its current beta phase.
Expanding Institutional Access to Stablecoins and Staking via Anchorage Digital
Anchorage Digital is increasingly positioning itself as a regulated gateway for institutions seeking access to stablecoins and onchain financial products. Notably, in January, Anchorage was tapped by Tether to issue USAt, a US-focused stablecoin designed to comply with the GENIUS Act, marking Anchorage’s role beyond custody into stablecoin issuance.
The firm has also been extending stablecoin use cases into payments and treasury functions. In May 2023, Mexico’s Grupo Salinas partnered with Anchorage to facilitate blockchain-based dollar transfers, cross-border settlements, and treasury operations through its digital asset subsidiary, Coinpro.
Moreover, Anchorage has broadened its institutional staking services to allow clients to earn protocol rewards while retaining custody of their assets. Integrations include Solana staking via Marinade Finance in April and native staking for TRX, Tron’s native token, introduced in July.
Why it matters
This partnership reinforces Anchorage Digital’s role as a regulated provider of infrastructure for institutional access to stablecoins and blockchain-based financial products. Allowing institutions to manage Frgmnt tokens without setting up separate custody arrangements simplifies operations and encourages broader adoption of emerging stablecoins. Against the backdrop of increasing institutional interest in digital assets, expanding such integrations builds confidence in the industry and helps foster ecosystem growth on the Base network.
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