IOSG Ventures announces investment in Fun, which provides global funding channels for platforms such as Polymarket.

BlockBeats news, October 26: IOSG Ventures announced an investment in Fun, betting on global fiat infrastructure for internet markets. Fun provides fiat transactions, payment routing, and cross-chain fund settlement services for prediction markets, on-chain perpetual contract platforms, and DeFi applications, helping users move funds between different fiat currencies, digital assets, and blockchain networks. According to IOSG, Polymarket's fiat transactions are all processed through Fun, and platforms such as Lighter and Aave are also using its services. Fun currently processes an annualized fund volume of $100 billion, covering more than 150 countries and regions and over 50 payment methods. IOSG believes that as prediction markets, on-chain trading platforms, and tokenized asset applications expand, whether funds can flow in and out smoothly will directly affect user conversion rates and platform growth. Fun attempts to reduce the complexity for platforms to independently integrate fiat channels, wallets, stablecoins, and multiple blockchains through a unified fund access layer. The company was founded by Alex Fine in 2022.