Anchorage Digital Brings Institutional Access to Frgmnt Stablecoins
Anchorage Digital has partnered with Frgmnt to provide institutional access to its stablecoins, fUSD and sfUSD. Through Anchorage's regulated custody platform, qualifying clients can hold, mint, redeem, stake, and unstake these tokens without having to set up a separate custody arrangement.
Frgmnt's fUSD is issued against USDC on Base and backed by onchain lending markets. Users can stake fUSD to receive sfUSD, which generates rewards tied to the protocol's underlying strategies. As of September 4, sfUSD was yielding 13.32% APR.
The partnership aims to reduce friction for institutions looking to participate in DeFi-linked stablecoin products. By packaging multiple functions within one custody workflow, Anchorage streamlines operations and compliance controls.
Frgmnt plans to open public access and raise its deposit cap on September 15, transitioning from a capped, invite-only beta phase. This move could influence how quickly institutional demand translates into onchain activity.