Tether Expands Into Private Credit
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Stablecoin issuer Tether is expanding into the realm of private credit. The company behind USDT coin (CRYPTO: $USDT) is partnering with British asset manager Fasanara Capital and putting $400 million U.S. into a fund that plans to use its stablecoin to move money globally. Specifically, Tether and Fasanara Capital are joining forces to support StableFund, a private credit vehicle that aims to raise as much as $3 billion U.S. from institutional investors. More From Cryptoprowl: MEXC Launches Earn Plus With Limited-Time Event Offering Up to 800% APR Booster Kalshi Expands Internationally With Alpaca Brokerage Partnership Bitmine Accelerates Ethereum Purchases To Close Out August Strategy Bought $370 Million Of Bitcoin Last Week MEXC Data: BTC Breaks $80,000, Major-Asset Spot Trading Volume Surges 300% Fasanara Capital will manage the fund and deploy the money into short-term, asset-backed loans through financial technology platforms operating in more than 60 countries. Tether will source USDT-linked financing opportunities and provide the infrastructure for moving funds internationally, including converting traditional fiat currencies into stablecoins. The fund is the latest step in Tether's evolution beyond issuing and managing the USDT stablecoin that has made it one of the biggest crypto firms. In recent months, Tether has expanded into payments, artificial intelligence...
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