Anchorage Digital Enables Institutional Use of Frgmnt’s fUSD Stablecoin
Institutional access to fUSD announced
Anchorage Digital, a U.S. federally chartered crypto bank, said it will allow its institutional clients to hold, create (mint), redeem and stake the fUSD stablecoin from the Frgmnt protocol through its custody platform.
Key points
- Anchorage will provide a single custody solution for fUSD and its staked version sfUSD.
- Frgmnt’s fUSD is issued on Base, backed by USDC and on‑chain lending markets.
- The protocol currently has about $100,000 locked and is in an invite‑only beta.
- sfUSD was reported to earn a 13.32% annual percentage rate (APR) on September 4, though returns can change.
- Frgmnt plans to open public access and raise its deposit cap on September 15.
Official announcement
The partnership was disclosed in a Friday press release from Anchorage Digital, confirming that institutions can use Anchorage’s custody services to manage fUSD without needing a separate arrangement.
What is confirmed
- Anchorage Digital will support holding, minting, redeeming, staking and unstaking fUSD for institutional clients.
- Frgmnt’s fUSD is a stablecoin that maintains a 1:1 peg to the U.S. dollar by using USDC as collateral.
- Frgmnt’s on‑chain staking token sfUSD offers rewards derived from the protocol’s lending strategies.
What is still unclear
The exact terms for institutions, such as minimum deposit sizes or fees, were not detailed in the announcement.
Why it matters
Providing regulated custody for a stablecoin and its staking rewards gives institutional investors a safer way to access on‑chain financial products, expanding the use of blockchain‑based money in traditional finance.
What happens next
Frgmnt intends to lift the invite‑only restriction and increase its deposit limit on September 15, which could allow more users to mint and stake fUSD.
