Digital asset giant Tether and technology-enabled asset manager Fasanara Capital have launched StableFund, a $400 million evergreen private credit vehicle designed to expand stablecoin-enabled lending to the real economy. Jointly anchored by co-investments from both sponsors, the fund aims to raise up to $3 billion in third-party institutional capital. The move capitalizes on a booming global private credit market that is currently valued at $3 trillion and projected to expand to $5 trillion by 2029.
The fund seeks to address a global financing deficit for small and medium-sized enterprises (SMEs), which current estimates place at $5.7 trillion. Fasanara will act as Investment Manager, utilizing its global fintech network to deploy capital into short-duration, asset-backed credit strategies. Serving as Originator and Advisor, Tether will source USDT-linked opportunities and supply stablecoin settlement infrastructure—including on/off-ramp connectivity and treasury rails—to facilitate faster cross-border capital deployment than traditional banking systems offer.
By integrating USDT into SME and consumer lending flows across fintech platforms in over 60 countries, the initiative aims to serve borrowers historically overlooked by traditional funding channels. The strategy leverages Tether’s cross-border liquidity network alongside Fasanara’s proprietary technology and underwriting capabilities to enhance speed and capital efficiency in private credit markets.
The initiative marks a broader push by Tether to extend its digital asset infrastructure beyond crypto trading and routine payments into mainstream financial systems. By connecting crypto-native capital directly to real-economy borrowers, the joint venture addresses funding and settlement bottlenecks that have previously constrained fintech platforms in underserved markets.
Tether Chief Executive Officer Paolo Ardoino stated that the partnership allows Tether to turn its origination network into a direct channel for capital to reach businesses in need, framing USDT as friction-free money built for global lending. Fasanara Capital Chief Executive Officer Francesco Filia noted that combining Fasanara’s underwriting discipline with Tether’s stablecoin rails will extend credit reach beyond the limits of conventional funding structures.
Designed as an evergreen vehicle with the capacity to scale alongside institutional demand, the Fasanara-Tether fund highlights a growing institutional acceptance of stablecoins as a core layer of global financial infrastructure, particularly in markets hampered by slow or fragmented settlement networks.
