The Static Synchronous Compensator (STATCOM a.k.a. SVG) is widely used to regulate dynamic reactive power and to solve dynamic voltage stability problems. Modeling shows that a cascaded STATCOM, which is composed of several cascaded H-bridges, not only has strong coupling characteristics when an LCL filter is added but it is also a non-linear, multivariable system. Therefore, its practical design and application are dicult to implement. In this paper an internal decoupling control algorithm is introduced to provide independent control of the active and reactive currents. Decoupling control algorithms are proposed, and models and simulation of the decoupling are provided. We describe the setting up of a simulation and experiments with a cascaded STATCOM based on combined circuit topology with a multi-field programmable gate array (FPGA), and double-loop control algorithms with a current inner loop, and a capacitor voltage outer loop. To provide control of the current inner loop, proportional-integral (PI) and resonant controllers are used, having the control ability to cancel harmonics while compensating for the reactive power. This paper presents new current-tracing control models that compensate for the fundamental current and eliminate selective harmonics by adopting a d-q synchronous reference frame, and a discrete Fourier transform (DFT). Voltage balance is realized by introducing modulation wave distribution strategies. Furthermore, both simulation and experiments are employed to verify the feasibility and eectiveness of the control strategy.