Fun, a developer of payment infrastructure connecting fiat and cryptocurrency systems, closed a $72M Series A funding round in January. The round was co-led by venture firms Multicoin and SignalFire.
Fun provides the payment backbone for platforms including Polymarket, a prediction market platform, and Aave, a major decentralized finance protocol. The infrastructure handles the often-overlooked but critical mechanics of moving money between traditional banking systems and crypto networks.
The company operates in a space gaining traction as crypto platforms seek seamless on and off-ramp solutions for users. Payment rails have become a key bottleneck for mainstream adoption, with infrastructure providers serving as essential intermediaries between regulated financial systems and decentralized protocols.
Multicoin and SignalFire's co-leadership of the round underscores investor confidence in payment infrastructure as a foundational crypto sector. The $72M valuation reflects the growing importance of these backend systems as crypto platforms scale user bases and transaction volumes.
The SEC has postponed a plan that would have granted broad exemptions allowing US crypto firms to trade tokenized versions of stocks. The delay affects a significant expansion of crypto assets linked to traditional equities.
Kelp DAO has completed recovery of its restaked Ether token following a five-week effort to address a $293 million exploit attributed to North Korea's Lazarus Group in April.
Morgan Stanley launched a cryptocurrency trading pilot on E*Trade with lower fees than Coinbase, Robinhood, and Charles Schwab. The firm plans a broader rollout in 2026.
Crypto exchange Bullish agreed to acquire UK-based financial services outsourcing firm Equiniti from Siris Capital for $4.2 billion. The deal is expected to close in January 2027.