IOSG Ventures announces investment in Fun, which provides global funding rails for platforms such as Polymarket

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BlockBeats reports that October 26，IOSG Ventures has announced an investment in Fun, betting on global funding infrastructure for internet markets. Fun provides fiat trading, payment routing, and cross-chain fund settlement services for prediction markets, on-chain perpetual contract platforms, and DeFi applications, helping users move funds between different fiat currencies, digital assets, and blockchain networks.

According to IOSG, all of Polymarket's fiat transactions are processed through Fun, and platforms such as Lighter and Aave also use its services. Fun currently processes an annualized funding volume of 100000000000 USD, with its business covering 150 countries and regions and 50 payment methods.IOSG believes that as prediction markets, on-chain trading platforms, and tokenized asset applications expand, the ability for funds to flow in and out smoothly will directly affect user conversion rates and platform growth. Fun seeks to reduce the complexity of platforms integrating fiat rails, wallets, stablecoins, and multiple blockchains themselves through a unified funding access layer. The company was founded by Alex Fine in 2022.

Original link https://m.theblockbeats.info/flash/373754

Key points

IOSG Ventures announces an investment in Fun.
Fun provides fiat trading, payment routing, and cross-chain fund settlement services for prediction markets, on-chain perpetual contract platforms, and DeFi applications.
According to IOSG, all of Polymarket's fiat transactions are processed through Fun, and platforms such as Lighter and Aave also use its services.
Fun's annualized funding processing volume has reached 100000000000 USD, with its business covering 150 countries and regions and 50 payment methods.
Fun was founded by Alex Fine in 2022.

AI-assisted interpretation

The following is analysis, separate from reported facts. Verify important claims independently.

Fun provides funding services connecting fiat currencies, digital assets, and different blockchain networks, helping relevant platforms process payments and fund transfers.

Why it matters to readers

If the relevant business scale and platform usage are accurate, Fun may become the funding access layer for prediction markets, on-chain trading, and DeFi applications.

This means users may be able to transfer funds between fiat currencies, digital assets, and different blockchains through a single funding channel.

Risks and unknowns

Evidence does not disclose IOSG's investment amount, round, or transaction completion status.
Fun's annualized funding processing volume and the numbers of countries and payment methods covered mainly come from IOSG's description; no independent verification was found in the evidence.
The specific scope of cooperation and compliance status of Polymarket, Lighter, and Aave remain unclear.

IOSG Ventures announces investment in Fun, which provides global funding rails for platforms such as Polymarket

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