Tether and Fasanara Capital have introduced StableFund, a private credit vehicle backed by an initial $400 million investment. The fund aims to attract up to $3 billion from institutional investors to support asset-backed lending.
The fund will utilize Tether's USDT infrastructure to facilitate short-duration lending for small and medium-sized enterprises and consumers. Operations will span fintech platforms across more than 60 countries, covering areas like trade receivables and supply chain finance.
Fasanara Capital, a London-based manager overseeing over $6 billion, will handle investment management. Tether is responsible for sourcing financing opportunities and providing the technical infrastructure for on-chain and off-chain fund transfers.
Tether reported $187.8 billion in total assets and a reserve buffer of $4.11 billion as of late June. The company generated approximately $1.5 billion in net operating profit during the second quarter of the year.
The company continues to diversify its capital beyond stablecoin operations. Recent investments include $20 million in the Argentine neobank Uala, as well as funding for Mercado Bitcoin, Juventus, and a $50 million round for Eight Sleep.
