The source-frequency phase-referencing (SFPR) technique has been demonstrated to have great advantages for mm-VLBI observations. By implementing simultaneous multi-frequency receiving systems on the next-generation Event Horizon Telescope (ngEHT) antennas, it is feasible to carry out a frequency phase transfer (FPT) which could calibrate the non-dispersive propagation errors and significantly increase the phase coherence in the visibility data. Such an increase offers an efficient approach for a weak source or structure detection. The SFPR also makes it possible for high-precision astrometry, including the core-shift measurements up to sub-mm wavelengths for Sgr A*, M 87*, etc. We also briefly discuss the technical and scheduling considerations for future SFPR observations with the ngEHT.