Key Takeaways
- • IOSG announced an investment in Fun, a payments infrastructure provider, without disclosing the investment amount, funding stage or valuation.
- • Fun processes $100 billion in annualized volume across its customers, according to IOSG.
- • Fun powers every deposit and withdrawal on Polymarket and also serves Lighter and Aave.
- • Fun's checkout offering supports more than 50 payment methods across over 150 countries, including split payments and escrow, per IOSG.
Summary
IOSG has announced an investment in Fun, a payments infrastructure company serving prediction markets, exchanges and lending platforms, according to a CryptoRank report. The investor did not disclose the investment amount, funding stage or valuation.
Founded in 2022 by Alex Fine, Fun combines fiat payment rails, wallets, assets and blockchain networks into a single integration for deposits and withdrawals. Its infrastructure routes funds into the asset a platform requires and supports withdrawals to other chains or bank accounts. IOSG said Fun powers every deposit and withdrawal on Polymarket and also serves Lighter and Aave. The investor put Fun's processing volume at $100 billion on an annualized basis across its customers.
Fun's checkout offering supports more than 50 payment methods across over 150 countries, including split payments and escrow, according to IOSG. The investor's thesis centers on platforms outsourcing cross-border and cross-chain money movement rather than building that infrastructure internally.
Founded in 2022 by Alex Fine, Fun combines fiat payment rails, wallets, assets and blockchain networks into a single integration for deposits and withdrawals. Its infrastructure routes funds into the asset a platform requires and supports withdrawals to other chains or bank accounts. IOSG said Fun powers every deposit and withdrawal on Polymarket and also serves Lighter and Aave. The investor put Fun's processing volume at $100 billion on an annualized basis across its customers.
Fun's checkout offering supports more than 50 payment methods across over 150 countries, including split payments and escrow, according to IOSG. The investor's thesis centers on platforms outsourcing cross-border and cross-chain money movement rather than building that infrastructure internally.
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