Tether and Fasanara Launch $400 Million Private Credit Fund with $3 Billion Target - TradingView
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Tether and Fasanara Capital have launched a private credit fund backed by $400 million contributed by both companies, which aims to raise up to $3 billion from institutional investors. The evergreen fund, named StableFund, will use Tether's USDT (USDt) as settlement infrastructure for short-duration, asset-backed loans to businesses and consumers through fintech platforms in over 60 countries, the companies said on Wednesday. Fasanara will manage the fund's investments, while Tether will identify USDT-linked financing opportunities and provide the infrastructure to move funds on and off-chain. The fund will focus on small and medium-sized enterprises and consumer loans, including trade receivables and supply chain finance. Fasanara, a London-based asset manager that oversees more than $6 billion, will deploy capital through its network of fintech lenders. Tether has become one of the most profitable companies in the crypto industry, generating approximately $1.5 billion in net operating profit in the second quarter, primarily due to its holdings of U.S. Treasury bonds and repurchase agreements. The USDT issuer reported $187.8 billion in assets and a reserve buffer of $4.11 billion at the end of June. The company has increasingly deployed that capital outside its core stablecoin business, including a $20 million investment in Argentine neobank Ualá and stakes in Mercado...
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