Between September 20 and 27, 2025, the crypto and fintech sectors saw 27 funding deals. Six of these projects did not disclose investment details. The total reported capital raised amounted to approximately $1.26 billion, with the majority coming from traditional venture rounds.
Incrypted editorial highlights that venture investments, corporate placements, and token sales were particularly active this week.
Venture Investments: Major Rounds
Some of the largest deals during this period include:
- $500M — Kraken
The centralized cryptocurrency exchange (CEX) closed a funding round at a $15B valuation. Details of the round structure were not disclosed. Notable investors included Tribe Capital and Arjun Sethi. The company noted this is the final step before an IPO. - $136M — Fnality
A fintech platform developing tokenized versions of major currencies backed by central bank funds. The Series C round was led by WisdomTree, Bank of America, Citi, KBC Group, Temasek, and Tradeweb. Funds will be used to expand the product range and add new currencies. - $104M — Zerohash
An infrastructure provider offering banks and fintechs blockchain-based products in trading, stablecoins, and tokenization. Series D led by Interactive Brokers, with participation from Morgan Stanley and SoFi. - $47M — RedotPay
A financial aggregator platform combining multiple financial products. Investors included Coinbase Ventures, Galaxy Ventures, Vertex Ventures, and an angel investor. After the round, RedotPay reached unicorn status (valuation over $1B). - $14.7M — Digital Entertainment Asset
A Japanese social gaming studio raised 2.2B JPY in a Series A round with participation from JIA, ASICS Ventures, SBI Group, Daiwa House Group, and others. Funds will support business expansion and enhance the DEP token value. - $14.6M — Bastion
Provides institutional-grade infrastructure for issuing stablecoins. Round included Coinbase Ventures, Sony Innovation Fund, Samsung Next, a16z crypto, and Hashed. - $13.5M — Raiku
An infrastructure protocol on Solana ensuring reliable transaction execution under high load. Round led by Pantera Capital, Jump Crypto, Lightspeed, and Big Brain. - $8M — BULK
A decentralized exchange (DEX) for perpetual futures. Led by Robot Ventures and 6MV, funds will scale market coverage and enhance competitiveness. - $7M — Cloudburst Technology
Specializes in monitoring crypto cybersecurity threats. Series A led by Borderless Capital, with InQTel, Strategic Cyber Ventures, and CoinFund participating. - $6.6M — Divine
Micro-lending platform Credit, available via the World app. Seed round led by Paradigm with angel and early-stage investors. - $6M — Belfort
Works in homomorphic encryption, creating hardware and algorithms for secure data processing. Seed round led by Vsquared Ventures. - $5M — Shield
A neo-bank focused on experts using stablecoins. Led by Giant Ventures with participation from a16z crypto CSX, Factor Capital, and angels from Bank of America, Coinbase, AMEX, and Menlo Ventures. - $4.5M — Coop Records
Launchpad for musicians and content creators. Led by 1kx and Nascent. - $4M — USD.AI
Platform for collateralized lending of AI-related equipment. Round by Bullish exchange. - $3.6M — Stablecorp
Provides bank-grade blockchain infrastructure. Round led by FTP Ventures. - $3.5M — Melee Markets
Decentralized prediction markets rewarding early and correct traders. Supported by Variant, DBA, and angel investors. - $2.8M — RockSolid Network
Liquid staking project. Pre-seed round led by Castle Island Ventures and Blockchain Builders Fund.
Other projects received undisclosed funding, including PayPal’s investment in Stable, supporting the PYUSD stablecoin via the LayerZero protocol. Solana-based DEX SegaSwap also closed a round at a $10M valuation. UK analytics firm Elliptic added HSBC as a strategic investor, while Crossmint received capital from Circle Ventures (amount undisclosed).
Token Sales
- Hana Network (Kaito Launchpad) – completed September 23. Originally targeted $1M, 7.5% of supply offered due to high demand.
- Falcon Finance (Buidlpad) – target $4M, oversubscribed to $112M+.
- LAB – raised $1.5M. Developing an AI-native operating system for deep tech project teams.
Follow updates on token sales on the website and via the dedicated Telegram channel.
Corporate Placements & Deals
- ETHZilla – expanded convertible bond issuance by $350M. Funds likely to support Ethereum treasury expansion.
Mergers & Acquisitions
- Naver Financial & Dunamu – share swap where Dunamu integrates into Naver but remains legally independent.
- Honeycomb Protocol & GameShift – acquisition to create the first Solana-based Web3 gaming hub.
Accelerators, Grants & DAO Funding
No new incubator programs or DAO investments were reported this week.
Most Active Investors
Leading investors this week included Coinbase Ventures, Nascent, Jump Crypto, Variant, and CoinFund.
Sectors in Focus
Funding primarily went to projects in blockchain services, infrastructure, CeFi, DeFi, GameFi, and related areas. Total capital raised surpassed $1B.
