[DigitalToday reporter Chi-gyu Hwang] Crypto yield curator Gauntlet raised $125 million in a Series C round.

A recent report by The Block said Japan's SBI Holdings made the sole investment in Gauntlet through its U.S. subsidiary, SBI Holdings USA.

SBI Holdings is continuing to expand its investments in cryptocurrency market infrastructure. Earlier this week, it also participated as the sole investor in the $76 million Series C round of EDX Markets, an institutional cryptocurrency platform.

Gauntlet plans to use the funds to expand stablecoin-supported currencies beyond the dollar and euro to include the Mexican peso and Japanese yen. It also plans to launch new on-chain products and increase its global team with AI-assisted operations.

Gauntlet started in 2018 as a blockchain analytics company and later shifted its business to cryptocurrency vault curation. It provides risk management and optimisation services by helping institutional investors deploy capital into the on-chain DeFi market.

Tarun Chitra (타룬 치트라), Gauntlet's co-founder and CEO, said: "Just as ETFs increased participation in the U.S. stock market, tokenisation and vaults will expand the size of the DeFi market over the next few years faster than the overall growth rate of stablecoins."