SKN | Anchorage Digital Adds Institutional Access to Frgmnt’s fUSD Stablecoin

• Anchorage Digital will allow institutional clients to hold, mint, redeem, stake and unstake Frgmnt’s fUSD stablecoin directly through its custody platform.
• Frgmnt’s fUSD is issued against USDC on Base, with reserves deployed across onchain lending markets, while staked sfUSD provides exposure to rewards generated by the protocol’s strategies.
• The partnership expands Anchorage’s role as a regulated institutional gateway to stablecoins and onchain financial products.

Anchorage Brings fUSD to Institutional Clients

Anchorage Digital has partnered with stablecoin protocol Frgmnt to provide institutional clients with direct access to fUSD and sfUSD through its custody platform.

Under the integration, institutions will be able to hold, mint, redeem, stake and unstake fUSD without establishing a separate custody arrangement.

The partnership gives institutional users access to Frgmnt’s stablecoin infrastructure within an existing regulated custody environment, potentially simplifying participation in onchain yield strategies.

Frgmnt Builds Stablecoin and Yield Infrastructure

Frgmnt is a stablecoin protocol built on Base that issues fUSD against USDC. The underlying backing is deployed across onchain lending markets, allowing the protocol to generate returns from its strategies.

Users can stake fUSD to receive sfUSD, which provides rewards generated by those underlying strategies.

Frgmnt currently has approximately $100,000 in total value locked, according to DeFiLlama data, and remains in a capped, invite-only beta.

The protocol plans to open access to the public and increase its deposit cap on Sept. 15.

Frgmnt said sfUSD was generating an annual percentage rate of approximately 13.32% as of Sept. 4, although the yield can fluctuate based on conditions in the underlying lending markets.

Anchorage Strengthens Institutional Onchain Offering

The partnership adds another component to Anchorage Digital’s expanding institutional onchain infrastructure.

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 strategic investment from Tether.

Anchorage has increasingly positioned itself as an access point for institutions seeking regulated exposure to digital assets, stablecoins and staking.

In January, Tether selected Anchorage Digital Bank to issue USAt, its US-focused stablecoin designed to operate under the GENIUS Act. The arrangement expanded Anchorage’s role from custody into stablecoin issuance infrastructure.

The company has also been developing stablecoin applications for 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.

Institutional Staking Expands Beyond Stablecoins

Anchorage’s institutional offering also extends into staking.

The company has expanded support for institutional staking while allowing clients to maintain their assets within its custody environment.

An April integration with Marinade Finance added Solana staking strategies, followed by the introduction of native staking support for TRX in July.

The Frgmnt integration similarly connects institutional custody with onchain yield opportunities, reflecting the broader trend toward bringing decentralized financial products into regulated institutional infrastructure.

Outlook

Anchorage Digital’s partnership with Frgmnt demonstrates how regulated custody platforms are increasingly becoming gateways to onchain stablecoin and yield products. Providing institutions with the ability to interact directly with fUSD through an established custody environment could reduce operational complexity as institutional demand for stablecoin-based financial products grows. Frgmnt’s expansion beyond its invite-only beta will provide an important test of whether its lending-based stablecoin model can attract broader liquidity while maintaining sustainable yields.