What Fun does

Fun is a payment infrastructure company founded in 2022 by Alex Fine that connects fiat and blockchain-based payment rails for global digital-asset platforms. The company operates four core products — Deposit, Withdraw, Orchestration, and Checkout — delivered primarily as white-label SDK and API integrations that enable platforms to accept and disburse funds across more than 100 countries using 50+ payment methods. Fun differentiates itself architecturally by acting as a principal counterparty in transactions, purchasing tokens directly from users rather than operating as an agent or broker. The company also exposes a region-aware Intelligent Modal that adapts payment-method selection by user country to optimize conversion.

The company serves enterprise clients in DeFi and trading (Polymarket, Lighter, Ostium, Aave), fintech and payments, and sports and gaming (Fanatics, Ventuals) through a sales-led, white-glove onboarding motion with bespoke engineering embedded into each platform's flow. Fun's infrastructure is reported to achieve a 99.997%+ transaction success rate and settle $1M trades in under four seconds, processing $18B+ in annual volume while operating with roughly 30 employees. The business model is transaction-based with volume-tiered enterprise pricing that is not publicly disclosed; revenue derives principally from the spread Fun captures as a token-acquisition counterparty rather than from a published processing fee.

The business is headquartered in New York with a Singapore office opened in May 2026, and has raised approximately $85.9M across a 2022 pre-seed, an October 2023 seed, and a May 2026 Series A co-led by Multicoin Capital and SignalFire. Proceeds from the Series A are earmarked for headcount expansion, geographic build-out, and strategic acquisitions to extend the payments-and-crypto infrastructure stack.

Name

Fun

Legal name

The Fun Group, Inc.

Website

https://fun.xyz

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

Fun provides fiat-to-blockchain payment infrastructure for global fintech, DeFi, and gaming platforms via SDK-based Deposit, Withdraw, Orchestration, and Checkout products operating across 100+ countries and processing $18B+ annually.

Ownership category

akta.pro rank

Product category

Blockchain Payment Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Finance Services (6199)

akta.pro primary industry

Crypto Payment Gateways & Checkout APIs (FSADAIAA)

akta.pro secondary industries

Crypto Payments & Stablecoin Settlement Platforms (BPAMAFAL), Enterprise Payments & Tokenized Money (stablecoins, tokenized deposits, CBDC rails) (FSAPAIAJ), Settlement, Reconciliation & Merchant Treasury Tools (Crypto) (FSADAIAK)

Keywords

• Blockchain payment infrastructure
• Crypto payment processing
• Fiat-crypto rails
• Payment orchestration
• Digital asset settlement

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Transaction-based token exchange: Fun purchases supported tokens directly from users in exchange for specified target tokens, acting as principal counterparty rather than agent or broker. Transactions are processed with quotes generated for purchase and sale of tokens.

Pricing tiers

Go-to-market motion3 records

Distribution channels1 record

Marketing channels5 records

Core offering

Fun develops modular payment infrastructure that connects traditional fiat rails with blockchain networks, enabling platforms to accept deposits, process withdrawals, orchestrate stablecoin flows, and run unified checkouts across 100+ countries and 50+ payment methods. The company exposes the capability via SDKs and APIs for embedding directly into client applications, and acts as a principal counterparty purchasing supported tokens from users. Customers include crypto-native platforms (Polymarket, Lighter, Aave, Ostium) and non-crypto-native companies adding digital-asset payment flows.

Product overview

Fun operates as a modular payments infrastructure platform offering four integrated core products: Deposit, Withdraw, Orchestration, and Checkout. These products work together to provide a unified layer connecting traditional financial rails to blockchain networks, enabling applications to accept deposits and withdrawals across crypto and fiat with 50+ payment methods in 100+ countries. The platform is white-label and white-glove, built around how users actually behave, with a focus on conversion optimization and reliability at scale.

Differentiator

Problem solved

Functional benefit

Products and services

• Deposit An SDK-embedded product that optimizes crypto deposit conversion through an Intelligent Modal which adapts to users in 100+ countries using 50+ payment methods natively inside the host application. Supports any token on every popular blockchain and settles nearly instantly in the target token or fiat. Designed for platforms that need the highest-converting on-ramp experience inside their own app.
• Withdraw A multi-chain withdrawal product that enables platforms' users to withdraw reliably and instantly to crypto or directly off-ramp to fiat bank accounts. Includes enhanced security features that block withdrawals to addresses associated with illicit activity or known bad actors, supporting the most tokens on every popular blockchain.
• Orchestration An SDK-enabled orchestration layer for global stablecoin payments that allows users to pay with any method and have stablecoins routed to regulated partners. Supports flexible flow-of-funds configurations including instant fiat off-ramping to FBO accounts through compliance-first stablecoin gateways, and is built to scale liquidity across chains and counterparties.
• Checkout A unified payment flow that accepts 50+ crypto and fiat payment methods across 100+ countries at the point of purchase. Supports an onchain checkout overlay plus flexible settlement in crypto or fiat with multi-party splits and escrow capabilities, enabling platforms to run global checkout for digital assets or physical goods through a single integration.

Quantifiable outcome

• Processed over $18B in annual transaction volume
• +3 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Scale indicators9 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• MoonPay: MoonPay provides fiat-to-crypto onramps and off-ramps, payment APIs, and checkout for crypto-native and mainstream applications globally. It competes most directly with Fun's Deposit, Withdraw, and Checkout products, especially in serving non-crypto-native platforms looking to add crypto payment flows.
• Coinbase Commerce: Coinbase Commerce offers merchant crypto payment processing and onramp infrastructure, with similar use cases to Fun's Checkout and Deposit products. It is a direct competitor for merchants and platforms integrating crypto payments, with substantially larger brand and regulatory footprint.
• Transak: Transak provides fiat on/off-ramp infrastructure for crypto wallets, DeFi apps, and NFT platforms, with global payment method coverage. Like Fun, it focuses on developer-first APIs and embedded checkout for platforms serving end users in multiple countries.
• Onramper: Onramper is a fiat-to-crypto onramp aggregator that routes user purchases across multiple providers to optimize price and payment methods. It is comparable to Fun's intelligent modal/routing layer for deposits, though at a smaller scale and without the principal-counterparty model.
• Banxa: Banxa provides fiat on/off-ramp infrastructure for crypto platforms with global payment method coverage and regulatory licensing. It is comparable to Fun's deposit and withdrawal products, with similar focus on serving exchanges, wallets, and DeFi platforms.
• Alchemy Pay: Alchemy Pay provides fiat-crypto onramp and payment gateway services across 100+ countries, with support for both crypto and fiat settlement. It is a direct competitor to Fun's deposit, withdrawal, and checkout offerings for global platforms.

Broad incumbents

• Stripe: Stripe is a global payments incumbent that has added stablecoin and crypto onramp capabilities (including the Bridge acquisition and USDC rails). It is a broad competitor — not a pure crypto-payments company — but increasingly overlaps with Fun's orchestration, checkout, and fiat offramp products for enterprise merchants.
• Circle: Circle is the issuer of USDC and operates payment APIs, cross-border settlement, and treasury infrastructure for stablecoin payments. It overlaps with Fun's Orchestration and stablecoin settlement features from the issuer side, with a much larger balance sheet and regulatory positioning.
• PayPal (Crypto & Stablecoin features): PayPal operates its own crypto buying/selling, stablecoin (PYUSD), and onramp features for merchants and consumers. While not a pure crypto-payments infrastructure play, it is comparable as a broad incumbent with overlapping deposit, withdraw, and checkout capabilities for mainstream platforms considering crypto integration.

Emerging players

• Zero Hash: Zero Hash provides embedded crypto and stablecoin infrastructure, including custody, trading, and payments APIs, for fintechs and brokerages. It is comparable to Fun's Orchestration and Checkout products for platforms that need regulated crypto-as-a-service rails, though with a stronger emphasis on brokerage/asset infrastructure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/fun
• LinkedInlinkedin.com/company/funxyz

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds4 records

Investors11 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fun