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Tenet is committed to building connectors and toolkits in DeFi that provide liquidity accelerators, liquidity operation tools, DeFi trading aggregators, and long-tail asset lending solutions.
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New York-based payments company Fin.com announces closing of $20 million seed round.
According to Fortune, New York-based payments company Fin.com has announced the closing of a $20 million seed round, completed in August and led by Expa and Uber co-founder Garrett Camp, with participation from Coinbase Ventures, Tenet Fund, the founder of Figure, Mesh founder Bam Azizi, Second Sight Ventures, and Gulf and African sovereign and royal family offices. Founded by Bangladeshi founder Nabeel Alamgir and Pakistani founder Mustafa Dar, Fin.com aims to solve the "last mile" challenge of converting stablecoins into local bank accounts or digital wallets, providing white-label payment infrastructure to financial institutions, consumer platforms, and prediction markets. Its client platforms collectively serve over 800 million users. The company focuses on the South Asian, African, and Middle Eastern markets, and currently maintains offices in New York, Las Vegas, Dubai, Dhaka, Bangalore, and Lahore.
FundBank renames to IRACE Digital and acquires Tenet Bank
FundBank has been renamed to IRACE Digital and has acquired Tenet Bank in the Cayman Islands. The transaction will incorporate digital asset banking and fintech-focused clients into IRACE's existing institutional banking operations. Former Zodia Custody CEO John Cronin has been appointed as Global CEO, and IRACE is expanding into custody, liquidity, and trading infrastructure. (CoinDesk)