Anchorage Digital Enables Institutional Access to Frgmnt's fUSD Stablecoin
In brief
- Anchorage Digital partnered with Frgmnt to provide institutional clients access to fUSD and sfUSD through its custody platform
- Institutions can hold, mint, redeem, stake and unstake fUSD without separate custody arrangements
- Frgmnt is a Base-based stablecoin protocol backed by USDC deployed across onchain lending markets
Integration simplifies institutional stablecoin access
The integration will allow institutions to hold, mint, redeem, stake and unstake fUSD without setting up a separate custody arrangement, according to Anchorage's announcement. This streamlines the process for institutional players looking to participate in yield strategies on Base without managing multiple custody solutions.
Frgmnt is a stablecoin protocol built on Base that issues fUSD against USDC, with the backing deployed across onchain lending markets. The protocol had approximately $100,000 in total value locked as of the partnership announcement, according to DeFiLlama data.
Frgmnt's yield and expansion plans
Frgmnt said sfUSD was generating 13.32% APR as of Sept. 4, offering institutions a yield-bearing stablecoin option. The protocol plans to open public access and raise its deposit cap on Sept. 15, marking a shift toward broader market participation.
Anchorage's expanding institutional footprint
The partnership fits into Anchorage's broader strategy to expand custody and staking solutions for institutions. Anchorage Digital was valued at $4.2 billion in February following a $100 million investment from Tether.
Recent integrations show the bank's momentum in institutional crypto infrastructure. Tether tapped Anchorage Digital Bank in January to issue USAt, its US-focused stablecoin designed to operate under the GENIUS Act. 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. An April integration with Marinade Finance added Solana staking strategies, and native staking for TRX, the Tron network's native token, followed in July.
