Anchorage Digital has partnered with stablecoin protocol Frgmnt to provide institutional clients with access to fUSD and sfUSD tokens through Anchorage's custody platform.
The integration enables institutions to hold, mint, redeem, stake and unstake fUSD without establishing a separate custody arrangement, according to the announcement. Frgmnt is a stablecoin protocol built on Base that issues fUSD against USDC, with backing deployed across onchain lending markets. Users can stake fUSD to receive sfUSD and earn rewards from the protocol's underlying strategies.
Frgmnt is currently operating under a capped, invite-only beta with approximately $100,000 in total value locked. The protocol plans to open public access and increase its deposit cap on September 15. As of September 4, sfUSD was generating 13.32% APR, though yields vary based on conditions in the underlying lending markets.
Anchorage Digital Bank is a US federally chartered crypto bank regulated by the Office of the Comptroller of the Currency. The broader Anchorage Digital platform was valued at $4.2 billion in February following a $100 million investment from Tether.
The Frgmnt partnership reflects Anchorage Digital's expanding role as a regulated gateway for institutions accessing stablecoins, staking and other onchain financial products. In January, Tether selected Anchorage Digital Bank to issue USAt, its US-focused stablecoin. The company has also expanded institutional staking services, with integrations including Solana staking through Marinade Finance in April and native Tron network staking in July.
