PANews reported on May 28th that, according to The Block, Falcon Finance has hired Anchorage Digital to issue a new payment stablecoin, fUSD, which complies with GENIUS requirements and is backed by short-term U.S. Treasury securities, cash, and Treasury-backed repurchase agreements. Anchorage Digital Bank's federal regulatory infrastructure will manage the token's collateral and maintain AML/KYC standards.

Falcon stated that fUSD is a regulated version of its existing synthetic stablecoin USDf. USDf is the 11th largest stablecoin, employs an over-collateralized mechanism, and is not covered by the GENIUS Act. fUSD will be deployed as collateral on MirrorRSV solution, an institutional-grade crypto custody platform affiliated with Binance.