Anchorage Digital expands institutional access to Frgmnt stablecoin products

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Anchorage expands Frgmnt stablecoin access

Highlights

Anchorage Digital added Frgmnt's fUSD and sfUSD tokens to its custody platform, expanding institutional access to stablecoin products built on Base.
Frgmnt's sfUSD, offering a 13.32% APR as of Sept. 4, operates with $100,000 total value locked and plans to raise its deposit cap and open public access on Sept. 15.
Anchorage Digital's institutional crypto services broadened in 2024 with stablecoin issuances, payments, and staking infrastructure, including partnerships with Tether, Grupo Salinas, Marinade Finance, and TRX.

Custody integration broadens token access

As reported by Cointelegraph, citing Frgmnt, the integration places its fUSD and sfUSD tokens on Anchorage Digital’s custody platform for institutional clients. Frgmnt, a stablecoin protocol built on Base, issues fUSD against USDC and deploys the backing across onchain lending markets.

Users can stake fUSD to receive sfUSD and earn rewards tied to the protocol’s underlying strategies. Frgmnt says sfUSD is generating 13.32% APR as of Sept. 4, although yields vary with conditions in the lending markets underneath the product.

The protocol has about $100,000 in total value locked, according to DeFiLlama data, and is operating under a capped, invite-only beta. Frgmnt plans to open public access and raise its deposit cap on Sept. 15.

Anchorage builds out institutional crypto rails

The partnership adds to Anchorage Digital’s effort to position itself as a regulated access point for institutions seeking stablecoins, staking and other onchain financial services. Anchorage Digital Bank is a U.S. federally chartered crypto bank regulated by the Office of the Comptroller of the Currency and operates within the broader Anchorage Digital platform.

The company has been expanding across multiple parts of the stablecoin market. Tether tapped Anchorage Digital Bank in January to issue USAt, a U.S.-focused stablecoin designed to operate under the GENIUS Act, moving Anchorage further into issuance rather than only custody.

Anchorage is also extending its infrastructure into payments, treasury operations and staking. In May, Grupo Salinas in Mexico partnered with Anchorage to support blockchain-based dollar transfers, cross-border settlement and treasury activity through its Coinpro digital asset unit, while earlier integrations added Solana staking through Marinade Finance in April and native staking for TRX in July.

In our earlier article on Kevin Hassett’s Coinbase stock disclosure and recusal, we examined how senior White House economic officials’ ties to major crypto firms can raise ethics and conflict-of-interest questions as the administration reshapes U.S. digital-asset policy. We also noted that the President’s Working Group on Digital Asset Markets was pushing broad reforms spanning banking, stablecoins and market structure—an environment that directly affects institutional access points and regulated rails in crypto.

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