FundBank Rebrands to IRACE Digital to Bridge TradFi and Crypto

The rebrand from FundBank to IRACE Digital signals a strategic shift toward an integrated institutional platform. By merging traditional banking scale with digital-native technology, the firm intends to replace the current patchwork of disparate custody and payment services with a singular operating model. The company, which operates across the U.S., Europe, and the Cayman Islands, has appointed John Cronin—formerly of Zodia Custody—as Global CEO to spearhead this transition alongside a team of executives from major global financial institutions.

Central to this expansion is a partnership between IRACE’s Cayman operations and Tenet Bank Ltd. This collaboration combines Tenet’s expertise in web3 and financial technology with IRACE’s established regulatory infrastructure. According to IRACE founder Don Seymour, the convergence of traditional finance and digital assets is no longer theoretical, citing regulatory developments like MiCAR as the catalyst for the firm’s new direction. While the platform currently holds several pending regulatory applications for its digital asset services, the organization is positioning itself as the primary banking partner for asset managers and funds navigating the blurred lines between fiat and crypto ecosystems.