Falcon Finance launches fUSD, a reward-bearing stablecoin

Synthetic dollar protocol Falcon Finance (FF) announced today the launch of fUSD, a reward-bearing stablecoin, in partnership with U.S. crypto bank Anchorage Digital Bank. Issued by Anchorage, the stablecoin's reserves are managed under the supervision of the U.S. Office of the Comptroller of the Currency (OCC). Deloitte, one of the world's four largest accounting firms, will conduct monthly proof-of-reserve audits. According to Falcon Finance, fUSD is the first stablecoin compliant with U.S. regulations to launch on the infrastructure of institutional custody platform Ceffu. The company also noted that eligible institutional holders can receive a portion of the operating profits from fUSD reserves, targeting an annual yield of 3%.