Anchorage Digital has collaborated with the stablecoin project Frgmnt to grant institutional customers entry to its fUSD and sfUSD assets through the Anchorage custody infrastructure.
As stated in a Friday announcement, this integration enables institutions to hold, mint, burn, stake, and unstake fUSD without requiring a separate custodial setup.
Frgmnt functions as a decentralized stablecoin protocol built on Base that creates fUSD backed by USDC, with these reserves deployed into onchain credit markets. Participants can lock up fUSD in exchange for sfUSD to collect yields produced by the underlying mechanics of the protocol.
Based on DeFiLlama data, the project holds roughly $100,000 in total value locked while running a restricted, invitation-only beta phase. Frgmnt intends to launch public availability and increase its deposit ceiling on September 15.
Frgmnt noted that sfUSD yielded an annualized percentage rate of 13.32% as of September 4, though returns fluctuate depending on conditions within the supporting borrowing markets.
Source: frgmnt
Anchorage Digital Bank serves as a federally chartered crypto bank in the US overseen by the Office of the Comptroller of the Currency, functioning under the wider Anchorage Digital enterprise, which achieved a valuation of $4.2 billion last February following a $100 million equity injection by Tether.
Related: Anchorage Digital brings off-exchange settlement to Binance
Anchorage expands institutional onchain access
The collaboration with Frgmnt builds upon Anchorage Digital’s expanding function as a compliant bridge for institutions pursuing stablecoins, staking, and alternative decentralized financial products.
Tether selected Anchorage Digital Bank in January to distribute USAt, its US-focused stablecoin engineered to comply with the GENIUS Act. That agreement positioned Anchorage on the creation side of the stablecoin sector, moving beyond exclusive custody services for externally generated assets.
The organization has also worked to integrate stablecoin frameworks into corporate treasury workflows and transactions. In May, Mexico’s Grupo Salinas teamed up with Anchorage to enable blockchain-powered dollar movements, international settlements, and treasury management through its Coinpro digital asset arm.
Aside from stablecoin support, Anchorage has scaled its institutional staking offerings, enabling customers to capture network rewards while retaining holdings inside its secure vault system. An April integration with Marinade Finance introduced Solana staking capabilities, which was followed in July by native staking for TRX, the primary asset of the Tron network.
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Originally published at https://cointelegraph.com/news/anchorage-digital-adds-institutional-access-to-frgmnts-fusd-stablecoin?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound.
