Private credit markets get a boost with Tether Fasanara Capital

Tether, USDT issuer and UK based Fasanara Capital, a leading specialist asset manager in technology-enabled private credit, launched StableFund, a Tether-Fasanara Lending Fund. The jointly sponsored evergreen private credit vehicle is anchored by $400 million in co-investment across both sponsors and targets up to $3 billion in third-party institutional capital.

As per the announcement, the launch comes as private credit has grown into an approximately $3 trillion global market and is projected to reach $5 trillion by 2029, reflecting increasing demand for alternative sources of financing and institutional exposure to real-economy lending opportunities.

The fund is designed to direct institutional capital toward small and medium-sized businesses, which face a global financing gap estimated at $5.7 trillion. Fasanara will serve as Investment Manager, deploying capital through its global fintech lending network into short-duration, asset-backed credit strategies. Tether will be a co-sponsor, acting as Originator and Advisor, sourcing USD₮-linked financing opportunities and providing the stablecoin settlement infrastructure, including on/off-ramp connectivity and treasury rail integration, that enables capital to move across borders more efficiently than traditional systems allow.

The structure embeds USD₮ into SME and consumer lending flows across fintech platforms operating in more than 60 countries, targeting borrowers that conventional funding channels have historically underserved.

Fasanara will utilize its established real-economy lending platform, underwriting expertise, and proprietary technology. The fund is designed to support a stablecoin-enabled private credit strategy focused on short-duration, asset-backed lending across global fintech origination channels.

“USD₮ was built to be money that works everywhere, across borders, around the clock, without friction. Through this fund, Tether is playing the role it is best positioned to play, sourcing USD₮-linked financing opportunities and providing the stablecoin infrastructure that enables seamless cross-border lending. Together with Fasanara, we are turning Tether’s origination network into a direct channel for capital to flow to the businesses and communities that need it most,” said Paolo Ardoino, CEO of Tether.

“We have spent years building the proprietary technology, the origination relationships, and the underwriting discipline to direct institutional capital to borrowers that traditional finance systematically underserves. Tether brings something unique to that equation: the largest stablecoin network in the world, a crypto-native investor base with significant capital capacity, and USD₮ rails that extend the reach of credit beyond anything conventional funding structures can achieve. Together, we are improving how capital is deployed into real-economy lending markets and enabling more efficient cross-border credit flows,” said Francesco Filia, CEO of Fasanara Capital.