Anchorage Digital has entered a partnership with stablecoin protocol Frgmnt that will allow institutional clients to access fUSD and its staked counterpart sfUSD directly through the bank’s regulated custody platform. The arrangement, announced on September 11, 2026, lets qualifying institutions hold, mint, stake, unstake and redeem the tokens without establishing a separate custody setup.

Frgmnt operates on Base, the Ethereum layer-2 network developed by Coinbase. Its primary token, fUSD, is minted against USDC. The protocol deploys that backing across selected onchain lending markets so that the capital becomes productive from the outset. Holders who stake fUSD receive sfUSD and thereby gain exposure to the rewards generated by those underlying strategies.

How the Integration Works

The partnership places the full lifecycle of Frgmnt’s assets inside Anchorage Digital’s existing operational environment. Institutions already using the platform for custody, staking, trading or settlement can manage fUSD and sfUSD alongside their other digital assets. This removes the need to move capital into a new custody arrangement solely to interact with the protocol.

Anchorage Digital Bank N.A., the first federally chartered crypto bank in the United States, is regulated by the Office of the Comptroller of the Currency. The broader Anchorage Digital platform also includes entities licensed in Singapore and New York and provides services ranging from custody and staking to trading and settlement.

Nathan McCauley, CEO and co-founder of Anchorage Digital, said the collaboration supports institutional demand for secure routes into decentralized finance.

Protocol Status and Yield Profile

Frgmnt currently operates under a capped, invite-only beta. Data from DeFiLlama shows total value locked of approximately $100,000. The protocol has opened deposits in successive capped waves as it scales. Its next deposit wave is scheduled to open in September, with public access and an increase in the deposit cap planned for September 15.

As of September 4, sfUSD was generating a 13.32 percent annual percentage rate, according to a statement from Frgmnt. The protocol notes that yields fluctuate with conditions in the underlying lending markets and are not fixed. Positions and performance metrics remain fully transparent onchain and can be monitored through Frgmnt’s own statistics tools as well as third-party platforms such as Dune and DeFiLlama.

Broader Institutional Context

The Frgmnt deal continues Anchorage Digital’s expansion of onchain services available inside its custody environment. Earlier this year the firm integrated Lido staking so clients could mint and burn wrapped staked Ether without transferring assets outside the platform. It has also supported institutional staking strategies on Solana through Marinade Finance and added native staking for Tron’s TRX token.

On the stablecoin side, Anchorage Digital Bank has served as issuer for certain tokens and has provided regulated custody for others. The Frgmnt integration extends that activity by giving institutions a direct operational path into a yield-generating stablecoin product whose backing is actively deployed in decentralized lending markets.

Institutions interested in accessing fUSD and sfUSD through the partnership can contact their existing Anchorage Digital representative or reach out to Frgmnt directly. The protocol continues to make its onchain data publicly available so that participants can independently verify positions and performance as deposit capacity expands.