IOSG Ventures announced investment in Fun

According to official news, IOSG Ventures announced an investment in Fun, betting on a global funding infrastructure aimed at the internet market. Fun provides fiat trading, payment routing, and cross-chain fund settlement services for prediction markets, on-chain perpetual contract platforms, and DeFi applications, helping users transfer funds between different fiat currencies, digital assets, and blockchain networks.

According to IOSG, all fiat trading for Polymarket is processed through Fun, and platforms like Lighter and Aave are also using its services. Fun currently processes an annualized funding volume of $100 billion, covering over 150 countries and regions and more than 50 payment methods.

IOSG believes that as prediction markets, on-chain trading platforms, and tokenized asset applications expand, the smooth entry and exit of funds will directly affect user conversion rates and platform growth. Fun aims to reduce the complexity of platforms integrating fiat channels, wallets, stablecoins, and multiple blockchains through a unified funding access layer. The company was founded by Alex Fine in 2022.