Tether and Fasanara Capital have launched a private credit fund backed by $400 million from the two firms, with the objective of raising as much as $3 billion from institutional investors.
Known as StableFund, the evergreen fund utilizes Tether’s USDT as settlement infrastructure. It is designed to provide short-duration, asset-backed lending to businesses and consumers via fintech platforms spanning more than 60 countries.
Under the partnership, London-based asset manager Fasanara will oversee the fund’s investments, deploying capital through its established network of fintech lenders. Tether will handle sourcing USDT-linked financing opportunities and provide the necessary infrastructure for on- and offchain fund movements. The fund targets small and medium-sized businesses as well as consumer lending, focusing on areas such as trade receivables and supply chain finance.
Fasanara currently manages more than $6 billion in assets. Meanwhile, Tether reported $187.8 billion in assets and a $4.11 billion reserve buffer at the end of June, alongside generating approximately $1.5 billion in net operating profit in the second quarter, largely driven by US Treasury and repo holdings.
The initiative marks another expansion for Tether beyond its core stablecoin operations. Recent capital deployments by the company include a $20 million investment in Argentine neobank Ualá, stakes in Mercado Bitcoin and Italian football club Juventus, and leading a $50 million funding round for AI sleep technology firm Eight Sleep.
