Anchorage Digital adds institutional access to Frgmnt’s fUSD stablecoin

Anchorage Digital has partnered with stablecoin protocol Frgmnt to give institutional clients access to its fUSD and sfUSD tokens through Anchorage’s custody platform.The integration will allow institutions to hold, mint, redeem, stake and unstake fUSD without setting up a separate custody arrangement, according to a Friday announcement.Frgmnt is a stablecoin protocol built on Base that issues fUSD against USDC, with the backing deployed across onchain lending markets. Users can stake fUSD for sfUSD to earn rewards generated by the protocol’s underlying strategies.The protocol has about $100,000 in total value locked, according to DeFiLlama data, while operating under a capped, invite-only beta. Frgmnt plans to open public access and raise its deposit cap on Sept. 15.Frgmnt said sfUSD was generating 13.32% APR as of Sept. 4, though yields vary with conditions in the underlying lending markets.Source: frgmntAnchorage Digital Bank is a US federally chartered crypto bank regulated by the Office of the Comptroller of the Currency and operates as part of the broader Anchorage Digital platform, which was valued at $4.2 billion in February following a $100 million investment from Tether.R...