Tether and Fasanara Launch $400M Stablecoin Private Credit Fund

Tether and Fasanara Capital launched StableFund on Sept. 9, creating an evergreen private credit vehicle backed by $400 million in co-investment from the two sponsors. The fund will use Tether’s $USDT settlement infrastructure and Fasanara’s lending network to finance short-duration, asset-backed credit strategies.

The companies said in their joint announcement that StableFund will target as much as $3 billion in third-party institutional capital. That figure is a fundraising objective rather than committed outside capital, while the $400 million represents sponsor co-investment disclosed at launch.

Fasanara will manage the private credit strategy

London-based Fasanara will act as investment manager, deploying capital through its fintech lending network. The strategy is designed to fund small and medium-sized businesses and consumer lending through short-duration, asset-backed instruments originated by fintech platforms in more than 60 countries.

The release describes Fasanara as managing more than $6 billion and operating across SME loans, consumer credit, trade receivables and supply-chain finance. These are company-provided figures and descriptions. StableFund’s announcement did not publish target returns, fee terms, redemption conditions or a timetable for reaching its outside-capital goal.

Tether will supply $USDT-linked origination and settlement

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 into lending flows rather than use the token only for trading or payments.

The launch extends a broader shift toward tokenized lending and collateral. BlockchainReporter recently reported that Arch Lending began accepting tokenized gold as loan collateral, another example of digital assets entering credit products. StableFund is different because it is a sponsored institutional vehicle focused on originating real-economy loans.

The fund targets institutional participation

StableFund’s evergreen structure allows it to scale if third-party institutions commit capital. Tether and Fasanara cited demand for alternative financing and a funding gap among smaller businesses as reasons for the strategy, but those market estimates remain projections included in the sponsors’ release.

The announcement does not identify initial borrowers, disclose completed loans or specify which jurisdictions will receive the first capital. That makes the Sept. 9 development a fund launch and capital commitment, not evidence that the targeted $3 billion has been raised or that lending outcomes have already been realized.