Gauntlet Networks, a New York-based digital asset risk and optimization firm, has closed a $125 million Series C financing led by SBI Holdings through its U.S. subsidiary, SBI Holdings USA.
Founded in 2018, Gauntlet operates as a quantitative risk and yield optimization engine for the on-chain finance ecosystem. The firm currently curates more than $1.5 billion in supplied assets across its vaults, integrates with more than 150 fintechs and institutions, and sets the economic parameters — collateral requirements, interest rate models, liquidation thresholds — under which billions of dollars in protocol and institutional capital operate across decentralized finance markets. Its platform serves both retail participants and institutional allocators by providing the risk guardrails necessary to deploy capital safely in on-chain environments.
The Series C proceeds will be directed at three priorities: expanding stablecoin coverage beyond USD and EUR to include MXN, JPY, and additional foreign currency stablecoins; growing the global team with an AI-supported approach to operational scaling; and deploying capital to bootstrap and accelerate new on-chain product offerings.
For SBI Holdings, one of Japan’s largest diversified financial groups, the investment extends a deliberate strategy of bridging traditional financial services with digital asset infrastructure. SBI has planned the rollout of a yen-denominated stablecoin in the second half of 2026 and is preparing for full operational readiness in digital asset investment trusts and exchange-traded products as regulatory frameworks mature globally. The firm views the current wave of on-chain finance development — including the advancement of the U.S. GENIUS Act establishing a federal stablecoin framework and the CLARITY Act addressing broader digital asset regulation — as foundational rather than speculative. Gauntlet’s risk management and optimization capabilities align directly with SBI’s need for institutional-grade infrastructure to underpin those planned product launches across Japan, Asia, and international markets.
Support: Financial Technology Partners served as the exclusive strategic and financial advisor to Gauntlet on the transaction.
KEY QUOTES:
“Vaults have proven themselves to be the next major revolution in financial markets. Much like ETFs increased equity participation in the US equities market, we expect tokenization and vaults to increase the size of the DeFi market faster than overall stablecoin growth in the next few years. And we’ve raised these funds to help further our mission to make that happen globally as the world moves on-chain. With the support of a large, traditional public company with a track record of blending traditional finance with crypto like SBI, we believe we are in the best place to take our years of research and development to help bring institutions on-chain.”
Tarun Chitra, Co-Founder and Chief Executive Officer, Gauntlet
“As traditional finance makes an irreversible transition toward on-chain finance, ensuring the reliability and transparency that allows investors to enter the market with peace of mind is our highest priority. The advanced risk management and optimization technologies possessed by Gauntlet will be indispensable functions in our goal to popularize digital assets. As regulatory clarity progresses in the U.S. with the GENIUS Act and the CLARITY Act, we look forward to working with Gauntlet to build next-generation financial infrastructure that spans Japan, Asia, and the world.”
Yoshitaka Kitao, Representative Director, Chairman, and President, SBI Holdings
