FundBank becomes IRACE Digital in bid to bridge traditional finance and crypto
FundBank has rebranded as IRACE Digital and acquired Tenet to create a unified platform for traditional banking and digital asset services. The company aims to simplify institutional operations by integrating fiat banking, custody, and crypto services under one governance framework.
Why it matters
This move signals a growing trend in the financial sector to consolidate traditional and digital asset infrastructure to reduce operational complexity for institutional clients.
The transaction brings Tenet, which serves entrepreneurs, startups, Web3 developers and institutional clients, into the IRACE group. The combined company said it plans to expand beyond traditional banking into digital asset custody, liquidity management and execution services.
The article focuses on corporate strategy and industry trends without taking a stance on the viability of the business model.
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