May 27, 2026 – Georgetown, Cayman Islands
- Issued by Anchorage Digital Bank, NA, the first federally chartered cryptocurrency bank in the US with reserves supervised by the OCC and endorsed monthly by Deloitte
- The GENIUS-ready stablecoin will launch on Ceffu’s institutional infrastructure with a reward structure: Eligible institutional holders participate in fUSD reserve economics, targeting an estimated 3% p.a.
- Rewards are paid by Falcon Finance, the trading partner, under separate bilateral agreements with eligible institutional holders, and not by Anchorage, the issuer or SIFO, the trustee.
- Falcon Finance will be the launch holder, deploying a portion of its corporate reserves in fUSD from day one
And US dollarslaunched today by Falcon Finance and Anchorage Digital BankN.A., is designed to bridge this gap: a GENIUS-ready digital dollar that meets institutional compliance requirements while sharing a portion of its reserve economics with eligible holders. GENIUS-ready stablecoin will be launched Sifu Institutional custody and collateral infrastructure with reward structure.
Falcon Finance, the synthetic dollar protocol with a $1.63 billion circulating supply and ranked in the top ten Ethereum stablecoins by market cap, today announced the launch of fUSD, a USD payment stablecoin issued by Anchorage Digital Bank, N.A. fUSD is ready for the GENIUS Act, the federal framework for payment stablecoins enacted on July 18, 2025.
The GENIUS Act restricts stablecoin issuers from paying interest or yield to holders. Anchorage Digital Bank issues fUSD but does not pay a return or rewards on the stablecoin itself. Rewards are offered by a separate entity from Anchorage Digital Bank, NA. They are linked to the underlying collateral of the stablecoin, such as US Treasuries. Falcon Finance, as the nominal partner, runs a corporate rewards program targeting approximately 3% per annum. Rewards are only available to corporate entities that enter into a contractual agreement with Falcon; No other USD stablecoin currently offers this structure to institutional holders.
fUSD is supported by Ceffu’s institutional custodial and escrow infrastructure, the same platform used by leading trading firms and liquidity providers, including FalconX, Presto, and Orderly. Falcon already uses Ceffu within its existing custodial pool against USDf, its over-collateralized synthetic dollar. By launching fUSD on Ceffu, Falcon is positioning the stablecoin where professional desks, treasury desks, high-frequency trading firms, fundamental traders and counterparties operating under strict compliance mandates already manage collateral. For these desks, the most widely used stablecoins do not return anything on the balances they hold; The regulated dollar holding rewards allows them to improve the economics of their strategies without deviating from their compliance requirements.
Falcon Finance will be the fUSD launch holder, deploying a portion of its corporate reserves into the stablecoin from launch, an indication of the company’s confidence in the issuance framework and how it expects institutional parties to interact with the product.
“The desks we work with are operating under compliance mandates that synthetic and offshore stablecoins were never designed to meet, and the regulated dollars they can hold today pay them nothing,” said Andrey Grachev, co-founder of Falcon Finance. “fUSD fills both loopholes. It is issued by a federally chartered bank, backed by treasuries, launched on the infrastructure these desks already use to manage collateral, and is built so that eligible institutional holders can participate in economics that we are putting our balance sheet behind.” Since day one.
“fUSD was built from the ground up for institutional use, and that’s only possible because of our Federal Reserve charter,” said Nathan McCauley, CEO and co-founder of Anchorage Digital. “Falcon Finance is exactly the type of partner the GENIUS framework was designed to serve: sophisticated, institutional, and choosing to operate within rather than around U.S. regulation.”
“Integrating fUSD into the Ceffu ecosystem provides institutional-level sponsorship and additional benefit,” said Ian Loh, CEO of Ceffu. “We look forward to supporting Falcon Finance in expanding institutional adoption and leveraging of stablecoins.”
Falcon Finance now operates two integrated dollar products. USDf, the over-collateralized synthetic dollar, continues to serve native DeFi users and multi-collateralized mandates. fUSD expands Falcon’s reach to federally regulated treasury desks, compliance-constrained counterparties, and institutional collateral mandates that require a regulated, non-synthetic dollar.
About Falcon Finance
Falcon Finance is building a global collateral layer that turns any liquid assets, including digital assets, currency-backed tokens and tokenized real assets, into USD-pegged liquidity. By bridging the gap between onchain and offchain financial systems, Falcon enables institutions, protocols, and capital allocators to unlock stable, yield-generating liquidity from the assets they already own.
About Anchorage Digital
Anchorage Digital is a global cryptocurrency platform that enables institutions to stake digital assets through trading, storage, custody, governance, settlement, stablecoin issuance and industry-leading security infrastructure. Home to Anchorage Digital Bank NA, the first federally chartered cryptocurrency bank in the US, Anchorage Digital also serves institutions through Anchorage Digital Singapore, which is licensed by the Monetary Authority of Singapore; Anchorage Digital NY, which holds a BitLicense from the New York Department of Financial Services; and Anchorage Digital’s Porto self-custody wallet. Anchorage Digital Bank also offers legal custody services through the use of a licensed and FDIC-insured sub-custodian. Anchorage Digital is funded by leading institutions including Andreessen Horowitz, GIC, Goldman Sachs, KKR, and Visa, at a valuation of $4.2 billion. Anchorage Digital was founded in 2017 in San Francisco, CA, with offices in New York, NY; Porto, Portugal; Singapore; And Sioux Falls, South Dakota. Learn more at anchorage.com, at X@Anchorage, and on LinkedIn.
About Sivo
Ceffu is an institutional-grade compliant custody platform offering ISO 27001, 27701 and SOC2 Type 2 certified custody and liquidity solutions. Our multi-party computing (MPC) technology, combined with a customizable multi-approval system, provides customized solutions that allow institutional clients to securely store and manage their virtual assets.
About fUSD
fUSD is a USD payment stablecoin issued by Anchorage Digital Bank, NA, and subject to applicable final regulation, fUSD is ready for GENIUS, the federal framework for payment stablecoins. Each fUSD token is backed 1:1 by a reserve pool of cash, short-term US Treasury securities, and Treasury-backed repos through eligible MMF exposure, held at Anchorage Digital Bank under federal oversight. Reserves are certified by Deloitte on a monthly and annual basis. fUSD is specifically designed for institutional trading desks, collateral mandates, and counterparties operating under compliance requirements regulated by the federal government.
fUSD is not a deposit, is not FDIC insured, and is not endorsed or guaranteed by the U.S. government.
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Diksha Sharma
Falcon Finance
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