Crypto VC funding: RQD* raises $74M, Fasset gets $68M

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.

Stablecoin neobank Fasset followed with a $68 million Series C that valued the company at $1 billion.

Hivemind Digital Group and Entropy completed the next-largest raises. Five of the eight disclosed deals involved crypto market infrastructure and onchain finance, as well as tokenized assets.

Funding data came from DropsTab, CryptoRank, Crypto Fundraising, and official announcements issued during the reporting period. The weekly total excludes undisclosed rounds, valuations, cumulative funding figures, acquisitions, and capital announced outside the seven-day window.

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 and custody, along with 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 and Europe, plus Asia.

The firm also plans to build infrastructure for digital assets and tokenized securities. RQD* said it wants to help financial institutions custody blockchain-based assets and connect them with established clearing systems.

The transaction was the week’s largest disclosed financing and accounted for about 40% of the $184.1 million total. RQD* described the deal as a minority growth investment rather than a conventional venture round.

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. Speedinvest, an investor in the previous round, also participated in the Series C.

Fasset offers stablecoin payments and tokenized assets, along with digital banking services, across 125 countries. The company said it would use the capital to expand its payment network, develop its AI-based financial tools, and support a planned digital bank in Malaysia with SBI.

The company announced the deal from Los Angeles, giving the week’s second-largest round a direct US connection. Its broader expansion plans, however, remain focused on emerging markets and cross-border payments.

New York- and London-based Hivemind Digital Group completed a $17 million strategic funding round led by M&G Investments.

CPIC Investment Management Hong Kong, ZA Bank, FalconX, Sonic Boom Ventures, and other investors participated. Hivemind is the parent company of digital asset investment manager Hivemind Capital.

The group said the financing would support its tokenization infrastructure and institutional partnerships, as well as investments across digital assets and other technology sectors. Hivemind also plans to expand the systems it uses to issue, manage, and distribute tokenized financial products.

The round added to the week’s institutional funding trend, with established investment and financial companies backing businesses that connect traditional markets with blockchain infrastructure.

Onchain trading platform Entropy raised $14 million in equity financing led by Ribbit Capital. The company did not disclose the round’s valuation or identify its other equity investors.

Entropy also received $40 million in HYPE staking support. The staking commitment was not fresh equity financing and is excluded from the weekly funding total.

The company builds markets through Hyperliquid’s HIP-3 system, which allows approved deployers to launch perpetual futures markets after meeting staking requirements. Entropy’s first product provides exposure to Anthropic’s private-market valuation through a perpetual contract.

The team said it is developing additional markets covering private companies, equities, commodities, and other assets. Entropy also plans to create pricing and liquidity tools for markets that lack continuous public price feeds.