Fission Secures $10M Series A Led by Pantera Capital to Build Liquidity Layer for Tokenized Funds

Fission has secured $10 million in Series A funding to scale its liquidity infrastructure for tokenized investment funds. By addressing the friction of traditional redemption cycles, the fintech provides a secondary market layer for on-chain assets, offering institutional investors a way to manage capital more efficiently within the growing private credit and alternatives sectors.

What was announced

Fission announced the close of a $10 million Series A round, led by Pantera Capital. The funding is earmarked for expanding the company’s asset coverage, increasing its liquidity capacity, and deepening institutional integrations. The round also saw participation from a diverse group of investors including Circle Ventures, Borderless Capital, and Ari Rubenstein, alongside existing backers such as New Form, gumi Cryptos Capital, Anthony Scaramucci, Manhattan Venture Partners, Reflexive Capital, and Lattice Capital.

The company’s primary offering is a liquidity layer designed specifically for tokenized fund products. While tokenization has streamlined the issuance and settlement of fund interests, many underlying structures still suffer from legacy constraints like periodic redemption windows and limited secondary market access. Fission’s platform enables eligible holders to access capital without waiting for these traditional cycles, supporting a universe of funds across asset classes including private credit and institutional alternatives.

Fission's platform is purpose-built for institutional and permissioned markets. The infrastructure is designed to handle investor eligibility, transfer restrictions, and the specific compliance requirements governing regulated investment products. This allows the firm to bring on-chain liquidity to these assets while preserving the controls required by securities markets. To date, the company has already processed millions of dollars in transactions, sourcing capital from both traditional and on-chain providers.

The companies involved

Fission is a blockchain-enabled financial technology firm focused on building the liquidity infrastructure necessary for the tokenized fund market. The company operates at the intersection of traditional finance and digital assets, targeting the inefficiencies inherent in regulated investment products. Pantera Capital, which led the round, is a prominent investment firm focused exclusively on ventures, tokens, and projects related to blockchain technology and digital assets. It has a significant track record in the space, having backed numerous foundational protocols and platforms.

Circle Ventures is the venture arm of Circle, the issuer of the USDC stablecoin, focusing on early-stage projects that expand the utility of digital dollars. Borderless Capital is a venture capital firm that specializes in blockchain infrastructure and the Algorand ecosystem. Other notable participants include Lattice Capital, an early-stage crypto fund, and Manhattan Venture Partners, which focuses on the secondary market for late-stage private technology companies. The investor group also includes high-profile individuals such as Anthony Scaramucci and Ari Rubenstein, reflecting a mix of traditional hedge fund and market-making expertise.

What FF News has reported before

FF News has previously reported on significant infrastructure and investment developments within the digital asset space. This includes coverage of how Velocity Secures $10M Series A Extension from Visa and Ripple to Scale Stablecoin Infrastructure, as well as the expansion of crypto-native wealth services in Sam Altman-Backed Meanwhile Secures $37.5M to Scale Bitcoin Life Insurance for Global Wealthy Families. Furthermore, the publication has tracked the growth of institutional-grade identity and portal systems, such as when World Foundation Secures $52.5M to Scale World ID Infrastructure Amid AI Expansion and the launch of Mesta Launches White-Labeled Customer Portal to Accelerate Global Payment Infrastructure Access.

What this means

The tokenization of real-world assets (RWA) has long been hampered by a liquidity trap, where assets are digitally represented but remain functionally illiquid due to legacy redemption windows. By building a dedicated liquidity layer, the industry is finally addressing the structural mismatch between 24/7 blockchain rails and traditional fund cycles. This move puts significant pressure on traditional fund administrators who rely on manual, periodic processes. However, the success of such infrastructure depends entirely on the depth of the secondary markets it can tap into. The open question for the sector is whether on-chain liquidity can remain robust during periods of high volatility.