Tether and Fasanara launch $400 million private credit fund
New fund aims to channel USDT into business loans
Tether and Fasanara Capital announced the creation of an evergreen private credit fund with $400 million of capital from the two sponsors. The fund will use USDT, a stablecoin – a digital token pegged to the US dollar – to lend to small and medium‑sized businesses.
Fasanara will manage the investments, while Tether will source deals and provide settlement using its stablecoin network. The sponsors say the fund could eventually attract up to $3 billion from third‑party institutions.
Key points
- Initial capital: $400 million from Tether and Fasanara.
- Target size: up to $3 billion from external investors.
- Fasanara manages the lending; Tether provides USDT‑linked deal sourcing and settlement.
- USDT’s circulating supply is $183.4 billion.
- The fund will focus on lending to small‑business receivables and consumer credit through fintech platforms.
Fund structure and roles
The vehicle is called StableFund, formally the Tether‑Fasanara Lending Fund. Fasanara, a London‑based manager with about $6 billion under management, will deploy the capital across its fintech lending network. Tether acts as co‑sponsor, originator and adviser, using its stablecoin to settle loans off‑chain.
Why it matters
By using USDT as the settlement rail, the fund aims to provide a cross‑border, low‑friction way to finance businesses that may lack access to traditional credit. The partnership combines the world’s largest stablecoin network with a fintech‑focused lender.
