Weekly Funding Signal
Stablecoin infrastructure and AI data centers captured the bulk of Asia-connected capital, signaling deep institutional conviction in next-generation financial rails and compute.
Key Deals
| Project | Sector | Amount | Investors | Why It Matters |
|---|---|---|---|---|
| Yellow Card | Stablecoin Infrastructure | $40M | SC Ventures, Sony Innovation Fund, Polychain Capital, Blockchain Capital | Strategic backing from Standard Chartered and Sony signals a major institutional push for stablecoin-based global payment rails. |
| JPYC | Stablecoin / CeFi | $6.3M (B round add-on; total B round ~$38M) | AZ-COM Maruwa Holdings | Japan's leading yen stablecoin is scaling with logistics giant backing, bridging traditional commerce and Web3. |
| Dow Protocol | RWA / PayFi | $10.5M | MH Ventures, Mapleblock, Animoca Brands, Arcane Group, HSKChain, Essentia Partners, Quartet Group | Building PayFi rails for e-commerce working capital, tapping the massive Asia SME trade finance gap. |
| Vangrid | DePIN | $9M | HashKey, Borderless, Crypto.com Capital, Animoca Brands, Gate Labs, Mapleblock Capital | Backed by major Asian VCs, its spatial data network supplies training data for physical AI, from robotics to autonomous systems. |
| Yooldo | GameFi | $1M | FZF Ventures | Korean GameFi project secures strategic funding from an Asia-focused venture firm to expand its ecosystem. |
| ZIGChain | Layer-1 / RWA | Undisclosed (high single-digit millions) | Laser Digital (Nomura) | Nomura's digital asset arm backs a UAE-based chain targeting Sharia-compliant on-chain private credit in the Gulf. |
Builder to Watch
- Yellow Card: The stablecoin infrastructure firm is building a global USD account service that lets businesses move funds without the legacy correspondent banking system. Its $40M round from Standard Chartered and Sony underscores the convergence of traditional finance and crypto-native infrastructure. With cumulative equity funding exceeding $120M, Yellow Card is positioned to unlock dollar liquidity for enterprises in emerging markets, making it the clearest bridge between institutional capital and real-world stablecoin applications this week.
Also Noted
- Ripple's Zilo & Licuido investments: Ripple invests in UK-based transfer agent Zilo and FCA-regulated tokenization provider Licuido; the deal strengthens XRPL's role in tokenized assets, with Asia exposure through Ripple's regional partnerships.
- Blockspace: Ethereum out-of-protocol infrastructure startup backed by BlueYard; Asian-linked via EtherFi and Stakely among investors.
- MAGNE.AI (Web3+AI): Raised $2.64M from GAEA Ventures, Titans Ventures, Go2Mars Labs; decentralized AI infrastructure with no clear Asia HQ or lead, but Asian VC participation.
- Fortune Protocol (Web3+AI): AI-driven prediction derivatives; backed by MH Ventures and Mapleblock, with Asia connection limited to investor geography.
- InvestiFi: US-based digital investment platform raised $20M; no direct Asia link, but the model of embedding crypto into credit union banking is relevant for Asian digital banks.
- Bundle (Consumer): UAE-based rewards platform raised $5.5M, with Ethereal Ventures and Further Ventures co-leading; Asia connection through Middle East HQ and regional expansion potential.
- Mastercard acquires BVNK: Classic M&A; while the acquirer is global, BVNK's stablecoin infrastructure has significant Asia-Pacific usage corridors.
Capital Flow
- Stablecoin infrastructure dominated crypto funding, with over $40M raised by Yellow Card alone, reflecting the sector's strategic importance for cross-border payments and institutional on-ramps.
- RWA and PayFi models are gaining traction, as Dow Protocol's e-commerce working capital solution shows investors' appetite for real-world asset integration with DeFi.
- The Asia angle was strongest in stablecoin payments and Middle East–Asia corridors: Japanese stablecoin expansion, UAE private credit on-chain, and Nomura's Gulf push illustrate a multi-regional bet on blockchain-based finance.
PANews View
This week's Asia-focused crypto deals reveal a clear pattern: stablecoins are no longer just a trading settlement tool but are being embedded into traditional banking and corporate treasury flows. The participation of Standard Chartered, Sony, and Nomura's Laser Digital signals that major financial institutions are treating stablecoin infrastructure as a strategic asset, not a speculative experiment. Meanwhile, the convergence of RWA and PayFi in protocols like Dow points to a quieter but equally important trend—using blockchain to unlock working capital in Asia's vast SME sector, where traditional credit remains scarce. Expect this institutional and real-world utility narrative to deepen in the coming quarters.
