- FundBank has rebranded to IRACE Digital to allow services for asset managers.
- IRACE Digital has acquired the necessary licenses to operate both in the US and Europe.
- Consolidating under one regulated banking platform solves a pressing need in the market.
FundBank, a global institutional bank, has officially rebranded to IRACE Digital, repositioning as a hybrid operator offering services across traditional finance and crypto markets. According to reports, the transformation will allow the establishment to serve asset managers, hedge funds, and institutional clients who increasingly need banking infrastructure that works across fiat and blockchain-based systems.
IRACE Digital’s Infrastructure Ambition
IRACE Digital reportedly secured its license from the Office of the Comptroller of the Currency in the US in 2024, qualifying it as a federally recognized banking charter. It followed with launching its US operations in the same year, focusing on digital asset services.
Fast-forward to February 2026, and the company received authorization to open an Irish branch, making an official entry into Europe. After one month, the firm announced it had invested approximately 10 million euros in Trrue, an Irish blockchain company, strengthening its digital asset capabilities.
Other efforts by the company that signal its infrastructure ambition include a partnership with Temenos, a well-known provider of core banking SaaS solutions, and a collaboration with Komainu for fiat on and off-ramping. IRACE Digital announced the collaboration in March 2026, aiming to address a persistent pain point in institutional crypto participation, moving money between traditional bank accounts and digital asset platforms without friction.
Fiat/Crypto Institutional Services
Following the latest rebranding, IRACE Digital will now offer services encompassing custody, treasury management, on/off-ramping solutions, and fiduciary services for tokenized funds and hybrid investment vehicles. The firm believes consolidating these functions under one regulated banking platform solves a pressing need in the market.
It is worth noting that IRACE Digital is not the first traditional financial services establishment to expand into crypto custody and trading services. Standard Chartered has been involved in a similar protocol, while Anchorage Digital holds a federal bank charter in the US and serves institutional clients with digital asset banking.
Elsewhere, Seba Bank and Sygnum have been operating as crypto-native banks in Switzerland for years, and traditional custodians like BNY Mellon are involved in digital asset custody. However, IRACE Digital’s approach differs in the scope of its ambition across both fiat and crypto, combined with a multi-jurisdictional licensing strategy.
What Makes IRACE Digital Different?
The company separates itself from the lot by holding both the OCC license in the US and establishing a confirmed presence in Europe through Ireland. That is a scope of regulatory footprint that many crypto-native competitors lack.
Meanwhile, it is worth noting that besides the legitimacy provided by the OCC license, it also subjects IRACE Digital to the full weight of US banking regulation, including capital requirements, anti-money laundering obligations, and supervisory examinations. Additionally, operating across the US and EU simultaneously exposed the company to potentially conflicting regulatory regimes, particularly as Europe implements the Markets in Crypto-Assets framework.
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