Tether and Fasanara Capital Launch $400M StableFund to Bridge SME Financing Gap With USDT Infrastructure
Tether and Fasanara Capital announced the launch of StableFund on September 9, unveiling an evergreen private credit vehicle backed by $400 million in co-investment from the two sponsors. The fund combines Tether’s USDT settlement infrastructure with Fasanara’s global fintech lending network to finance short-duration, asset-backed credit strategies targeting small and medium-sized enterprises and consumer lending.
Fund Structure and Capital Targets
The joint announcement states that StableFund will target up to $3 billion in third-party institutional capital. The sponsors clarified that this figure represents a fundraising objective rather than committed outside capital, while the $400 million reflects sponsor co-investment disclosed at launch.
StableFund’s evergreen structure is designed to scale as third-party institutions commit capital. However, the release does not disclose target returns, fee terms, redemption conditions, or a timetable for reaching the outside-capital goal.
Fasanara Leads Investment Management Across 60+ Countries
London-based Fasanara Capital will act as investment manager, deploying capital through its fintech lending network. The strategy focuses on originating short-duration, asset-backed instruments via fintech platforms operating in more than 60 countries, targeting SME loans, consumer credit, trade receivables, and supply-chain finance.
Fasanara describes itself as managing more than $6 billion across those verticals. These are company-provided figures included in the sponsors’ release.
Tether Embeds USDT Into Lending Flows as Co-Sponsor and Originator
Tether will serve as co-sponsor, originator, and adviser. Its role includes sourcing USDT-linked financing opportunities and providing stablecoin infrastructure for settlement, on- and off-ramp connectivity, and treasury-rail integration. The structure is intended to embed USDT directly into lending operations rather than limit the token to trading or payments use cases.
Part of a Broader Shift Toward Tokenized Credit
The launch aligns with a growing trend of digital assets entering credit products. BlockchainReporter recently reported that Arch Lending began accepting tokenized gold as loan collateral, another example of tokenized assets expanding into lending markets. StableFund distinguishes itself as a sponsored institutional vehicle focused on originating real-economy loans rather than solely facilitating crypto-native borrowing.
No Borrowers or Deployed Capital Disclosed at Launch
The sponsors cited demand for alternative financing and a persistent funding gap among smaller businesses as market drivers for the strategy, though those estimates remain projections included in their release.
Critically, the announcement does not identify initial borrowers, disclose completed loans, or specify which jurisdictions will receive the first capital allocations. As a result, the September 9 development constitutes a fund launch and capital commitment — not evidence that the targeted $3 billion has been raised or that lending outcomes have been realized.
