Tether and Fasanara Launch $400 Million Private Credit Fund

Tether and Fasanara Capital have established an evergreen private credit fund, securing an initial capital of $400 million from both sponsors. The fund, named StableFund, aims to raise up to $3 billion from third-party institutions. This initiative marks a strategic shift for Tether, as it directs its stablecoin, USDT, towards loan books rather than traditional trading desks.

Fasanara Capital, based in London, will manage the fund and deploy capital through its fintech lending network, which already focuses on small-business receivables and consumer credit. Tether's role includes deal sourcing and providing a settlement layer, effectively utilizing USDT as a means for credit strategies that are underwritten off-chain. The fund's primary objective is to address the estimated $5.7 trillion global financing gap for small and medium-sized enterprises, although the source of this figure was not specified.

Paolo Ardoino, CEO of Tether, emphasized the fund's potential to facilitate capital flow to businesses and communities in need, leveraging Tether's extensive stablecoin network. Francesco Filia, CEO of Fasanara Capital, highlighted the unique advantages that Tether brings to the initiative, including its status as the largest stablecoin network and its capacity to extend credit beyond conventional funding structures.

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Source: KLEA News