PANews reported on May 1 that, according to Fortune, cryptocurrency exchange startup Fun announced it has completed a $72 million Series A funding round, led by Multicoin Capital and tech venture capital firm SignalFire, with participation from Infinity Ventures, Pharsalus Capital, and Tinder co-founder Justin Mateen, among others. The funding deal was completed in January of this year but was only recently made public. Fun declined to disclose the valuation of the round.

Fun focuses on providing the infrastructure for depositing and withdrawing funds between cryptocurrencies and fiat currencies (such as USD) on its platform, enabling users to complete fund transfers without going through exchanges or banks. Its clients include prediction market platform Polymarket, crypto derivatives platform Lighter, and lending protocol Aave. Currently, it processes more than $18 billion in payments annually. The company's founder and CEO, Alex Fine, said that as more fintech companies and new banks adopt tokens and stablecoins, Fun hopes to become the "gateway to the new economy."