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 integration will allow institutions to hold, mint, redeem, stake and unstake fUSD without setting up a separate custody arrangement, according to a Friday announcement.
Frgmnt is a stablecoin protocol built on Base that issues fUSD against USDC, with the backing deployed across onchain lending markets. Users can stake fUSD for sfUSD to earn rewards generated by the protocol’s underlying strategies.
The protocol has about $100,000 in total value locked, according to DeFiLlama data, while operating under a capped, invite-only beta. Frgmnt plans to open public access and raise its deposit cap on Sept. 15.
Frgmnt said sfUSD was generating 13.32% APR as of Sept. 4, though yields vary with conditions in the underlying lending markets.
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 valued at $4.2 billion in February following a $100 million investment from Tether.
Related: Anchorage Digital brings off-exchange settlement to Binance
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 deal put Anchorage on the issuance side of the stablecoin market, rather than solely providing custody for tokens issued elsewhere.
The company has also sought to extend stablecoin infrastructure into payments and treasury operations. In May, Mexico’s Grupo Salinas partnered with Anchorage to support blockchain-based dollar transfers, cross-border settlement and treasury activity through its Coinpro digital asset subsidiary.
Beyond stablecoins, Anchorage has expanded its institutional staking services, allowing clients to earn protocol rewards while keeping assets within its custody environment. An April integration with Marinade Finance added Solana staking strategies, followed in July by native staking for TRX, the Tron network’s native token.
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