FundBank has been renamed to IRACE Digital and has acquired Tenet Bank

According to CoinDesk, FundBank has been renamed IRACE Digital and has acquired Tenet Bank in the Cayman Islands. This transaction will incorporate digital asset banking operations and fintech-focused clients into IRACE's existing institutional banking business.

Former Zodia Custody CEO John Cronin has been appointed as the Global CEO, and IRACE is expanding into the areas of custody, liquidity, and trading infrastructure.