Anchorage Digital Brings Institutional Access to Frgmnt Stablecoins
Anchorage Digital has partnered with stablecoin protocol Frgmnt to give institutional clients direct access to fUSD and its yield-bearing sfUSD token through Anchorage's regulated custody platform.
The integration allows clients to hold, mint, redeem, stake and unstake fUSD without establishing a separate custody relationship or moving assets outside Anchorage's infrastructure, which could lower an operational barrier for institutions interested in accessing onchain stablecoin strategies while retaining assets within an established custody environment.
Frgmnt operates on Base and issues fUSD against USDC deposits. The protocol then deploys backing assets across onchain lending markets, while users can stake fUSD to receive sfUSD and earn returns generated by those underlying strategies.
As of September 4, Frgmnt's sfUSD was producing an annual percentage rate (APR) of 13.32%. However, the protocol notes that this rate is not fixed and can change alongside borrowing demand, lending rates, and conditions across the DeFi markets used by the protocol.
The partnership gives Frgmnt access to institutional infrastructure well before it has reached meaningful scale, with approximately $100,000 in total value locked according to DeFiLlama data. The protocol plans to open access to the public and increase its deposit cap on September 15.