Running a fund and the gap between crypto and traditional banking is still massive. We invest in early stage teams and most of them want capital in USDC or USDT on Solana or Ethereum. Our LPs are split between wire transfers and stablecoin contributions and managing both through separate platforms is a mess.
The US banking side rejects you the moment you mention offshore or crypto. The crypto native platforms handle stablecoins fine but have no US banking rails. No wire no ACH no FDIC insurance so you end up juggling 3 different platforms just to move money in and out of the fund.
Anyone here found a single platform that handles both sides? US banking rails for traditional LP contributions and native stablecoin payments for crypto native LPs and portfolio companies
US bank account for offshore crypto fund with stablecoin support
byu/Dry_Pain_5403 inCryptoMarkets
Posted by Dry_Pain_5403
1 Comment
Are your LPs sending stablecoins on Solana or Ethereum? Gas fees on Ethereum for larger transfers are brutal. We defaulted to Solana for LP contributions but some LPs only have Ethereum wallets