Gauntlet has closed a $125M Series C led by SBI Holdings as it pushes deeper into onchain finance and institutional infrastructure.

The company says the new capital will help expand its platform, grow the global team, and broaden stablecoin coverage beyond USD and EUR to include MXN, JPY, and more. Gauntlet currently curates more than $1.5B in supplied assets across its vaults and works with over 150 fintechs and institutions.

SBI said the investment aligns with its long-term strategy to bridge traditional finance with digital assets, including plans for a yen-denominated stablecoin in 2026.