Tether · CoinDesk
Tether pushes into private credit with $400 million fund with Fasanara
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Stablecoin issuer Tether is pushing into private credit with Fasanara Capital, putting $400 million behind a new fund that plans to use its USDT token to move money to lenders worldwide.
Key facts
- Tokenized equities lead RWA inflows as the market recovers; Binance's bStocks hit ~$118.5M in two months, now #2 issuer and ~90% of on-chain equity DEX volume
- USDT, the firm’s $145 billion token, accounts for more than half of the $300 billion stablecoin market and is particularly popular in emerging economies
- Stablecoin issuer Tether is pushing into private credit with Fasanara Capital, putting $400 million behind a new fund that plans to use its USDT token to move money to lenders worldwide
- The two firms are backing StableFund, an evergreen private credit vehicle that aims to raise as much as $3 billion from outside institutional investors, according to an announcement on Wednesday
Summary
Tether and Fasanara Capital are anchoring the private credit fund with $400 million and aim to attract up to $3 billion from institutional investors. The fund will finance businesses and consumers through fintech lenders in more than 60 countries, with USDT used to help move capital across borders. The move pushes Tether further beyond stablecoin issuance into traditional finance, adding private credit to its growing bets on payments, artificial intelligence and telecommunications. The two firms are backing StableFund, an evergreen private credit vehicle that aims to raise as much as $3 billion from outside institutional investors, according to an announcement on Wednesday.