Tether and Fasanara launch $400M StableFund targeting $3B in capital
In brief
- StableFund launched by Tether and Fasanara with $400M initial capital backing.
- Fund targets $3B in institutional capital for global lending operations.
- USDT settlement infrastructure enables asset-backed lending across 60+ countries.
- Fasanara manages investments; Tether provides financing and blockchain infrastructure.
Fund Structure and Roles
Fasanara will manage the fund's investments, while Tether will source USDT-linked financing opportunities and provide the infrastructure for moving funds on- and offchain. Fasanara, a London-based asset manager with more than $6 billion under management, brings institutional lending expertise to the partnership.
The fund will focus on small and medium-sized businesses and consumer lending, including trade receivables and supply chain finance. It's designed as an evergreen structure, meaning it can continuously deploy capital into new lending opportunities without a fixed maturity date.
Tether's Expanding Portfolio
This launch reflects Tether's growing appetite for real-world asset integration. The stablecoin issuer reported $187.8 billion in assets and a $4.11 billion reserve buffer at the end of June. Tether generated about $1.5 billion in net operating profit in the second quarter, largely from US Treasury and repo holdings.
Recent investments underscore Tether's pivot toward fintech and innovation. The firm invested $20 million in Argentine neobank Ualá and led a $50 million funding round for AI sleep technology company Eight Sleep in March. StableFund extends this strategy into institutional credit markets, leveraging USDT's infrastructure to unlock lending at scale across emerging and developed markets.
Frequently asked questions
What is StableFund and how does it work?
StableFund is a private credit fund launched by Tether and Fasanara Capital that uses USDT as settlement infrastructure for asset-backed lending. Fasanara manages investments while Tether sources financing opportunities and provides on- and offchain infrastructure across fintech platforms in over 60 countries.
How much capital is StableFund targeting?
The fund is backed by $400 million from Tether and Fasanara Capital and aims to raise as much as $3 billion from institutional investors.
What types of lending will StableFund focus on?
The fund will focus on small and medium-sized businesses and consumer lending, including trade receivables and supply chain finance through fintech platforms.
