Weekly Funding Signal
Traditional financial institutions are aggressively scaling their crypto infrastructure bets in Asia, with SBI Holdings anchoring two of the week's largest rounds, while AI funding continues to dwarf crypto in deal size.
Key Deals
| Project | Sector | Amount | Investors | Why It Matters |
|---|---|---|---|---|
| Gauntlet | DeFi | $125M | SBI Holdings (sole investor) | Japanese financial giant SBI injects massive capital into DeFi risk management as it deepens crypto ties. |
| EDX Markets | Centralized Finance | $76M | SBI Holdings (lead) | SBI leads C round for Wall-Street-backed exchange, pushing institutional crypto trading and custody in Asia. |
| Korbit | Centralized Finance | $98M (acquisition) | Mirae Asset Consulting | First Korean traditional finance takeover of a crypto exchange signals regulatory thaw and institutional entry. |
| TrueDAO | Infrastructure & Tools | $10M | Brevan Howard Digital (lead), Zee Prime Capital, Jump Capital | AI-powered cross-chain DeFi infrastructure gains Western fund backing with likely Asian expansion in sight. |
Builder to Watch
- Gauntlet: Once a DeFi stress-testing pioneer, Gauntlet is now evolving into a full-spectrum risk and vault curation platform. Its exclusive $125 million round from SBI Holdings isn't just a cash injection—it's a strategic alignment with one of Asia's most influential financial conglomerates, which already backs Ripple, Circle, and Morpho. SBI's distribution and institutional reach could cement Gauntlet's position as the go-to risk layer for Asian DeFi and traditional asset managers entering on-chain yield products.
Also Noted
- KOR Protocol: Raised $7.5M in Series A for on-chain creative asset settlement, with 1kx and Blockchain Capital participating. The Singapore-linked entertainment focus hints at Asia market ambitions.
- Elliptic: Circle Ventures invested an undisclosed amount in the blockchain analytics firm, which counts Deutsche Bank and Nasdaq Ventures among backers. Circle's Asia stablecoin push could benefit from Elliptic's compliance tools.
Capital Flow
- Traditional finance groups like SBI and Mirae Asset are leading crypto consolidation in Asia, focusing on exchanges and infrastructure with clear regulatory pathways.
- DeFi risk management attracted the largest single check, signaling that institutional allocators are prioritizing safety and analytics over high-yield speculation.
- Japan and South Korea emerged as hubs for regulated digital asset ventures, with cross-border corridors to US and European capital becoming more defined.
PANews View
The week underscores a structural shift: Asian legacy institutions are no longer just dabbling in crypto but are aggressively acquiring core infrastructure. SBI's twin bets on Gauntlet and EDX Markets reflect a coordinated strategy to control both the risk and execution layers of institutional digital asset markets. The Korbit acquisition may open a new chapter for Korean crypto consolidation, challenging the dominance of Upbit in a tightly regulated market.
