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

According to a Friday announcement, the integration will allow institutions to hold, mint, redeem, stake and unstake fUSD without establishing a separate custody arrangement.

Frgmnt is built on Base and issues fUSD against USDC, with the backing deployed across onchain lending markets. Users can stake fUSD to receive sfUSD and earn rewards generated by the protocol’s underlying strategies.

Frgmnt has approximately $100,000 in total value locked, according to DeFiLlama data, and is currently operating a capped, invite-only beta. The protocol plans to open public access and increase its deposit cap on Sept. 15, a stated milestone that would move the product beyond its current restricted rollout.

Frgmnt said sfUSD was generating 13.32% annual percentage yield as of Sept. 4, while noting that returns vary according to conditions in the underlying lending markets. The protocol has published announcements on X and X.

Anchorage Digital Bank is a US federally chartered crypto bank regulated by the Office of the Comptroller of the Currency. It operates as part of the broader Anchorage Digital platform, which was valued at $4.2 billion in February after Tether made a $100 million investment, according to Anchorage Digital.

Anchorage expands institutional onchain access

The Frgmnt partnership adds to Anchorage Digital’s role as a regulated gateway for institutions seeking access to stablecoins, staking and other onchain financial products.

In January, Tether selected Anchorage Digital Bank to issue USAt, its US-focused stablecoin designed to operate under the GENIUS Act. The agreement expanded Anchorage’s role into stablecoin issuance rather than limiting it to custody services for tokens issued by other companies.

Anchorage has also pursued stablecoin infrastructure for payments and treasury operations. In May, Mexico’s Grupo Salinas partnered with the company to support blockchain-based dollar transfers, cross-border settlement and treasury activity through its Coinpro digital asset subsidiary.

The company has expanded its institutional staking services beyond stablecoins, enabling clients to earn protocol rewards while keeping assets in 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.

Source: Cointelegraph