Frgmnt's fUSD Stablecoin Gains Institutional Gateway Through Anchorage Digital Partnership
Institutional investors will gain the ability to hold, mint, redeem and stake Frgmnt's fUSD stablecoin via the custody platform of the federally chartered US crypto bank.
A new partnership between Anchorage Digital and the stablecoin protocol Frgmnt will provide institutional investors with access to fUSD and sfUSD tokens via Anchorage's custody infrastructure.
According to an announcement released on Friday, the integration enables institutional clients to hold, mint, redeem, stake and unstake fUSD without needing to establish a separate custody solution.
Built on the Base blockchain, Frgmnt operates as a stablecoin protocol that creates fUSD backed by USDC, with the collateral allocated across various onchain lending platforms. The protocol allows users to stake their fUSD holdings for sfUSD, enabling them to capture returns produced by the protocol's underlying investment strategies.
DeFiLlama data shows the protocol currently holds approximately $100,000 in total value locked, as it continues to function under a capped, invitation-only beta phase. The protocol intends to expand public access and increase its deposit limit on Sept. 15.
According to Frgmnt, sfUSD delivered an annual percentage rate of 13.32% as of Sept. 4, although these returns fluctuate based on market conditions within the underlying lending protocols.
Operating under federal regulation by the Office of the Comptroller of the Currency, Anchorage Digital Bank is a US federally chartered cryptocurrency bank that functions within the larger Anchorage Digital ecosystem, which achieved a $4.2 billion valuation in February after securing a $100 million investment from Tether.
Anchorage expands institutional onchain access
This collaboration with Frgmnt represents another step in Anchorage Digital's expanding position as a regulated bridge connecting institutions with stablecoins, staking capabilities and additional onchain financial instruments.
In January, Tether selected Anchorage Digital Bank to facilitate the issuance of USAt, its stablecoin tailored for the US market and structured to comply with the GENIUS Act. This arrangement positioned Anchorage on the issuance end of the stablecoin ecosystem, moving beyond its traditional role of merely providing custody services for tokens created by other parties.
The firm has additionally pursued opportunities to expand stablecoin infrastructure into payment systems and treasury management. Mexico's Grupo Salinas established a partnership with Anchorage in May to enable blockchain-powered dollar transfers, international settlement services and treasury functions via its Coinpro digital asset arm.
Outside the stablecoin sector, Anchorage has broadened its institutional staking offerings, enabling clients to generate protocol incentives while maintaining assets under its custody framework. The company integrated with Marinade Finance in April to incorporate Solana staking options, then added native staking capabilities for TRX, the native cryptocurrency of the Tron network, in July.