FundBank Group, a banking provider to the asset management industry, has rebranded to IRACE Digital. The rebrand “marks the group’s shift from a traditional institutional banking platform to an integrated infrastructure provider supporting institutional activity across both traditional and digital asset markets”. Building on FundBank’s existing institutional banking infrastructure, and subject to regulatory approvals, IRACE intends to expand the group’s capabilities across digital assets, liquidity management and execution infrastructure alongside ongoing regulatory initiatives. To lead the next phase, IRACE has appointed John Cronin, former CEO of Zodia Custody, as global CEO.
As part of this exercise, the IRACE Cayman operation has entered into a partnership with Tenet Bank Ltd, a Cayman Islands-based institution serving entrepreneurs, startups, web3 developers and institutional clients across emerging digital asset and financial technology markets.