$400M Credit Fund Unveiled by Tether and Fasanara with $3B Growth Target
This evergreen investment vehicle will leverage USDT infrastructure to facilitate asset-backed financing through fintech platforms operating across more than 60 nations.
A private credit fund with initial capital of $400 million has been unveiled by Tether and Fasanara Capital, with the two companies setting their sights on attracting up to $3 billion from institutional investors.
The newly established evergreen fund, which goes by the name StableFund, will leverage Tether's USDT (USDt) as the settlement infrastructure to facilitate short-duration, asset-backed financing for both businesses and consumers via fintech platforms spanning more than 60 countries, according to Wednesday's announcement from the companies.
Investment management for the fund will be handled by Fasanara, while Tether will be responsible for sourcing financing opportunities linked to USDT and supplying the infrastructure necessary for moving funds both on- and offchain. The fund's investment focus will center on small and medium-sized businesses alongside consumer lending, encompassing areas such as trade receivables and supply chain finance.
The London-headquartered asset manager Fasanara, which oversees more than $6 billion under management, will channel the capital through its established network of fintech lenders.
As one of the crypto industry's most profitable enterprises, Tether has emerged with significant financial strength, producing approximately $1.5 billion in net operating profit during the second quarter, derived primarily from its US Treasury and repo holdings. At the conclusion of June, the USDT issuer reported $187.8 billion in assets alongside a reserve buffer of $4.11 billion.
Beyond its core stablecoin operations, the company has progressively deployed capital into various ventures, which include a $20 million investment in Argentine neobank Ualá and investments in both Mercado Bitcoin and Italian football club Juventus. Additionally, Tether led a $50 million funding round for Eight Sleep, an AI sleep technology company, in March.
