Anchorage Digital Partners with Fragment to Boost Stable Coin Adoption

Fragment, a provider of stable coin protocols, has partnered with Anchorage Digital, a digital asset custodian, as announced on September 11.

Fragment is currently operating 'fUSD' and 'sfUSD' on Ethereum's Layer 2 network, Base. fUSD is a stable coin pegged to the US dollar, and users can issue it by depositing USDC ($1.00 · Live) into their accounts. The deposited USDC will be managed in select on-chain lending markets.

sfUSD, on the other hand, is an non-transferable token representing staked fUSD positions. Rewards from Fragment's operation strategy accumulate in sfUSD.

The partnership enables institutional investors to hold, issue, stake, and redeem 'fUSD' within Anchorage Digital's existing custody and management environment without requiring a separate custodial setup.