Anchorage Digital Brings Institutional Access to Frgmnt’s fUSD Stablecoin

Institutional Gateway to Base Stablecoins

A major milestone for regulated crypto infrastructure emerged this week as Anchorage Digital, a US federally chartered crypto bank, announced a partnership with Frgmnt, a stablecoin protocol built on Base. The collaboration gives institutional clients direct access to fUSD and sfUSD tokens through Anchorage’s custody platform, eliminating the need for separate custody arrangements.

The integration enables a full range of operations: institutions can now hold, mint, redeem, stake and unstake fUSD from within Anchorage’s custody environment. This capability proves significant for asset managers and institutional treasuries seeking to participate in yield-generating strategies without fragmenting their operational infrastructure across multiple providers. The development reinforces Anchorage’s positioning as a crucial bridge between traditional finance gatekeepers and emerging onchain financial infrastructure.

How fUSD Works and What It Offers

Frgmnt’s fUSD stablecoin maintains its dollar peg through USDC backing, with collateral deployed across decentralized lending markets on Base. This reserve strategy distinguishes fUSD from some competitors by tying yield generation directly to lending activity rather than relying on centralized backstops. Holders can stake their fUSD to receive sfUSD, a yield-bearing variant that rewards users based on returns generated by the protocol’s underlying strategies.

As of early September, sfUSD holders were earning 13.32% APR, though yields fluctuate based on lending market conditions. This yield structure appeals to institutional treasurers seeking low-volatility exposure to DeFi without the complexity of managing multiple positions across different platforms. Currently operating under a controlled beta with approximately $100,000 in total value locked, Frgmnt was preparing to expand access significantly, with plans to open public access and increase its deposit cap on September 15.

Anchorage’s Expanding Role in Regulated Onchain Finance

This partnership represents another step in Anchorage Digital’s evolution as the infrastructure backbone for institutions seeking onchain exposure. The bank, regulated by the Office of the Comptroller of the Currency and valued at $4.2 billion following a $100 million Tether investment in February, has been systematically building out access to major crypto financial primitives.

Earlier this year, Anchorage became the issuer of Tether’s USAt stablecoin, positioning itself not just as a custodian but as an active participant in stablecoin issuance. The bank has also expanded staking infrastructure, recently adding native TRX staking support for Tron and completing Solana staking partnerships through Marinade Finance integration. International expansion efforts have followed, including a May partnership with Mexico’s Grupo Salinas to facilitate blockchain-based treasury operations and cross-border settlements through its Coinpro subsidiary.

The Frgmnt integration demonstrates how regulated institutions are increasingly becoming gateways to yield-generating onchain assets, allowing institutional clients to participate in DeFi strategies without leaving the custody environment. As traditional banks build deeper integration with crypto infrastructure through regulated channels, the barriers between institutional finance and decentralized networks continue to erode, creating new opportunities for mainstream adoption.

Source: Frgmnt, via Cointelegraph. Not financial advice.