Crypto and blockchain companies disclosed $184.1 million across eight funding rounds between Aug. 22 and Aug. 28, led by RQD* Clearing's $74 million growth investment and Fasset's $68 million Series C.
Key Takeaways
Eight crypto and blockchain projects disclosed a combined $184.1 million in new financing
RQD* Clearing secured a $74 million minority growth investment led by Bain Capital
Fasset raised $68 million in Series C funding at a $1 billion valuation
Infrastructure, stablecoin banking, and onchain trading attracted most of the disclosed capital
RQD* Clearing Secures $74 Million Growth Investment
New York-based RQD* Clearing secured a $74 million minority growth investment led by Bain Capital Tech Opportunities. ABN AMRO Clearing Bank and Nyca Partners also participated. RQD* provides clearing, custody, and technology services to broker-dealers, registered investment advisers, and foreign financial institutions seeking access to US markets. The company said the capital would support product development and expansion in the United States, Europe, and Asia. The firm also plans to build infrastructure for digital assets and tokenized securities. This connects to the broader institutional infrastructure trend covered in banks weighing stablecoins as payments competition and tokenized deposits cutting bank lending.
Fasset Reaches $1 Billion Valuation With $68 Million Series C
Stablecoin banking platform Fasset raised $68 million in a Series C led by Japan's SBI Group. The deal valued Fasset at $1 billion and followed a $51 million Series B completed in May. The two rounds brought Fasset's disclosed 2026 funding to $119 million. Fasset offers stablecoin payments, tokenized assets, and digital banking services across 125 countries. The company said it would use the capital to expand its payment network, develop AI-based financial tools, and support a planned digital bank in Malaysia with SBI. This connects to the Circle's USDC expansion and broader stablecoin adoption.
Hivemind and Entropy Complete Next-Largest Raises
Hivemind Digital Group completed a $17 million strategic funding round led by M&G Investments. The group said the financing would support its tokenization infrastructure, institutional partnerships, and investments across digital assets. Onchain trading platform Entropy raised $14 million in equity financing led by Ribbit Capital, plus $40 million in HYPE staking support. Entropy builds markets through Hyperliquid's HIP-3 system, with its first product providing exposure to Anthropic's private-market valuation through a perpetual contract. This connects to the HyENA's Hyperliquid-based shutdown and broader HIP-3 ecosystem developments.
Smaller Rounds and Strategic Investments
City Protocol announced a $4 million pre-Series A involving Dragonfly, Jump Crypto, and Mirana Ventures for tokenized structured products. Chomp raised $3.6 million for its social question-and-answer game. Oro secured $3 million for its plain-language transaction platform across Ethereum, Solana, and ZIGChain. Five of the eight disclosed deals involved crypto market infrastructure, onchain finance, or tokenized assets, underscoring the sector's continued attraction for venture capital despite broader market headwinds.
