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Tether partners with Fasanara Capital on private credit fund
The StableFund vehicle aims to raise up to $3 billion from institutional investors, deploying capital into short-term, asset-backed loans across more than 60 countries.
Tether, the issuer of the USDT stablecoin, is expanding into private credit through a partnership with British asset manager Fasanara Capital. The companies are placing $400 million into a new fund designed to use stablecoin infrastructure to move money globally, according to Yahoo Finance.
The initiative, StableFund, plans to raise as much as $3 billion U.S. from institutional investors. Fasanara Capital will manage the fund and deploy capital into short-term, asset-backed loans via financial technology platforms operating in more than 60 countries.
Tether will source USDT-linked financing opportunities and provide infrastructure for cross-border transfers, including converting traditional fiat currencies into stablecoins. The move is presented as a further step beyond Tether’s role in issuing and managing USDT.
Yahoo Finance also notes that USDT is Tether’s $145 billion U.S. stablecoin and accounts for more than half of the $300 billion U.S. global stablecoin market. Tether and Fasanara Capital are privately held, and their stocks do not trade on a public exchange.