Anchorage Digital Adds Institutional Custody for Frgmnt's fUSD Stablecoin

Anchorage Digital has partnered with stablecoin protocol Frgmnt to give institutional clients direct access to its fUSD and sfUSD tokens through Anchorage's custody platform. The integration enables institutions to hold, mint, redeem, stake, and unstake fUSD without setting up a separate custody arrangement, according to a Friday announcement. Anchorage Digital Bank, a US federally chartered crypto bank regulated by the Office of the Comptroller of the Currency, is positioning itself as a regulated gateway between traditional finance and onchain dollar instruments.

Frgmnt is a stablecoin protocol built on Coinbase's Base network that issues fUSD against USDC collateral, with backing deployed across onchain lending markets. Users can stake fUSD to receive sfUSD and earn protocol-generated rewards; as of September 4, sfUSD was yielding 13.32% APR, though returns fluctuate with conditions in the underlying lending markets. The protocol currently holds roughly $100,000 in total value locked, per DeFiLlama data, while operating under a capped, invite-only beta. Frgmnt plans to open public access and raise its deposit cap on September 15.

The deal adds to Anchorage Digital's expanding footprint across the institutional stablecoin stack. In January, Tether tapped Anchorage Digital Bank to issue USAt, its US-focused stablecoin built to comply with the GENIUS Act, putting Anchorage on the issuance side of the market rather than serving solely as a custodian. The company has since extended into payments and treasury operations through a May partnership with Mexico's Grupo Salinas, supporting blockchain-based dollar transfers and cross-border settlement via its Coinpro digital asset subsidiary.

Beyond stablecoins, Anchorage continues to broaden its institutional staking offerings. An April integration with Marinade Finance added Solana staking strategies, and in July the bank rolled out native staking support for TRX, the Tron network's native token. Together, these moves underscore Anchorage's strategy of consolidating custody, staking, and stablecoin issuance within a single federally regulated platform, a structure few crypto-native firms can match. The broader Anchorage Digital platform was valued at $4.2 billion in February following a $100 million investment from Tether.