Tether Teams Up with Fasanara for $400M Private Credit Fund

Tether and Fasanara Capital have launched StableFund, a private credit fund aiming to raise up to $3 billion from institutional investors. The evergreen fund is backed by $400 million from Tether and Fasanara, which will use USDT as settlement infrastructure for short-duration lending.

StableFund will focus on small and medium-sized businesses and consumer lending through fintech platforms in more than 60 countries. Fasanara will manage the investments, while Tether will source USDT-linked financing opportunities and provide the infrastructure for moving funds on- and offchain.

The fund's launch comes as Tether has emerged as one of the crypto industry's most profitable companies, generating about $1.5 billion in net operating profit in the second quarter. The company reported $187.8 billion in assets and a $4.11 billion reserve buffer at the end of June.