Anchorage Digital, a US federally chartered crypto bank, has integrated the Frgmnt stablecoin protocol into its custody platform. This partnership enables institutional clients to hold, mint, redeem, and stake fUSD and sfUSD tokens directly within the bank's existing infrastructure without requiring separate arrangements.
Frgmnt is a protocol built on the Base network that issues fUSD backed by USDC, with collateral deployed across onchain lending markets. Users can stake fUSD to receive sfUSD and earn rewards. As of September 4, the protocol reported an annual percentage rate of 13.32% for sfUSD, though yields fluctuate based on market conditions.
Currently operating in an invite-only beta, the Frgmnt protocol holds approximately $100,000 in total value locked. The project intends to transition to public access and increase its deposit limits on September 15. Anchorage Digital continues to expand its role as a regulated gateway for institutional access to stablecoins and staking products.
Anchorage Digital platform reached a valuation of $4,2 billion in February following a $100 million investment from Tether. The bank's recent activities include issuing the USAt stablecoin for Tether and supporting cross-border settlement for Mexico’s Grupo Salinas. The firm also provides institutional staking for Solana and Tron networks.
