Anchorage Digital has partnered with stablecoin protocol Frgmnt to give institutional clients access to its fUSD and sfUSD tokens through Anchorage’s custody platform.
The merger will allow institutions to hold, mint, redeem, stake and unstake FUSD without setting up a separate custody system, according to Friday. announcement.
Frgmnt is a stable coin protocol built on the premise that fUSD is issued against USDC, with backing deployed across the onchain debt market. Users can participate in fUSD for sfUSD to earn rewards generated by the strategies underlying the protocol
According to DeFiLlama the total value of the protocol is locked at around $100,000 InformationWhile operating under a capped, invite-only beta. The frgmnt plans to open public access on September 15 and raise its deposit cap
Frgmnt said As of September 4 the sfUSD was making 13.32% APR, although the yield varies with underlying debt market conditions.
Source: frgmnt
Anchorage Digital Bank is a US federally chartered crypto bank regulated by the Office of the Comptroller of the Currency and operates as part of the broader Anchorage Digital Platform, which was valuable $4.2 billion in February after a $100 million investment from Tether.
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Anchorage expands institutional onchain access
The Frgmnt partnership adds to Anchorage Digital’s growing role as a regulated gateway for institutions seeking access to stablecoins, staking and other onchain financial products.
Tether tapped Anchorage Digital Bank in January to issue USAT, its US-focused stablecoin designed to operate under the Genius Act. The agreement places Anchorage on the issuance side of the stablecoin market, rather than merely providing custody for tokens issued elsewhere.
The company also sought to extend its stablecoin infrastructure to payments and treasury operations. In May, Mexico’s Grupo Salinas partnered with Anchorage to support blockchain-based dollar transfers, cross-border settlements and treasury activities through its Coinpro digital asset subsidiary.
Beyond stablecoins, Anchorage has expanded its institutional staking services, allowing clients to earn protocol rewards by placing assets within their custodial environment. An April integration with Marinade Finance added the Solana staking strategy, followed in July by native staking for TRX, the Tron network’s native token.
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