Frgmnt has partnered with Anchorage Digital to give institutional clients access to its fUSD stablecoin and sfUSD staking product through Anchorage's custody platform. Clients can hold, mint, redeem and stake the tokens without entering a separate custody agreement. Frgmnt issues fUSD against USDC collateral and deploys backing assets to onchain lending markets, including Aave and Morpho. Staking fUSD produces sfUSD, a yield-bearing token that distributes protocol yield after Frgmnt retains a 20% performance fee. sfUSD had an annualized yield of 13.32% as of Sept. 4. Frgmnt, which operates as an invite-only beta service, had about $100,000 in total value locked and said it would open public access and raise deposit limits from Sept. 15. Anchorage Digital, a federally chartered crypto bank supervised by the Office of the Comptroller of the Currency, has continued to broaden institutional infrastructure for stablecoins, onchain yield products and staking services. Tether invested $100 million in Anchorage at a $4.2 billion valuation in February, revising earlier reporting that placed the funding and valuation in July.