Gauntlet, a crypto yield curator, raised $125 million in a Series C funding round this week, with Japan's SBI Holdings as the sole investor through its U.S. subsidiary, SBI Holdings USA, Inc. The funding will enable Gauntlet to expand stablecoin coverage beyond the U.S. dollar and euro to include the Mexican peso, Japanese yen, and other fiat-backed stablecoins, while launching new onchain offerings and growing its global team with AI-supported operations. SBI Holdings' investment follows its $76 million Series C funding into institutional crypto platform EDX Markets earlier this week, reflecting the Japanese financial giant's continued push into crypto market infrastructure.
SBI Holdings Invests in Two Crypto Platforms This Week
SBI Holdings served as the sole investor in Gauntlet's $125 million Series C round through SBI Holdings USA, Inc. Earlier this week, the Japanese financial giant was also the sole investor in EDX Markets' $76 million Series C funding round. Yoshitaka Kitao, representative director, chairman and president of SBI Holdings, stated, "As traditional finance makes an irreversible transition toward onchain finance, ensuring the reliability and transparency that allows investors to enter the market with peace of mind is our highest priority. As regulatory clarity progresses in the U.S. with the GENIUS Act and the CLARITY Act, we look forward to working with Gauntlet to build next-generation financial infrastructure that spans Japan, Asia and the world." The firm stated the crypto market has grown and that it sees digital assets becoming part of the broader financial system rather than remaining a separate trend.
Gauntlet Plans Stablecoin Expansion to Mexican Peso and Japanese Yen
Gauntlet plans to expand stablecoin coverage beyond the U.S. dollar (USD) and euro (EUR) to include the Mexican peso (MXN), Japanese yen (JPY), and other fiat-backed stablecoins. The company also plans to launch new onchain offerings and grow its global team with AI-supported operations. Tarun Chitra, co-founder and CEO of Gauntlet, stated, "Vaults have proven themselves to be the next major revolution in financial markets. Much like ETFs increased equity participation in the U.S. equities market, we expect tokenization and vaults to increase the size of the DeFi market faster than overall stablecoin growth in the next few years." Chitra stated the new funding will help Gauntlet expand globally as more financial activity moves onchain, adding that SBI's experience across traditional finance and crypto will help the company bring more institutions onchain.
Gauntlet Curates $1.5 Billion Across 150+ Institutional Clients
Gauntlet was founded in 2018 as a blockchain analytics company before shifting to crypto vault curation. The company helps institutions deploy capital onchain into DeFi markets while providing risk management and optimization services. Gauntlet stated it currently curates more than $1.5 billion in assets across its vaults and works with more than 150 fintechs and institutions. The company did not disclose the valuation for the Series C round. Gauntlet was last valued at $1 billion in 2022, when it raised $23.8 million in a Series B funding round led by Ribbit Capital.
FAQ
What did Gauntlet raise in its Series C funding round?
Gauntlet raised $125 million in a Series C funding round this week, with Japan's SBI Holdings as the sole investor through its U.S. subsidiary, SBI Holdings USA, Inc.
Which stablecoins will Gauntlet expand coverage to include?
Gauntlet plans to expand stablecoin coverage beyond the U.S. dollar and euro to include the Mexican peso, Japanese yen, and other fiat-backed stablecoins.
